Computer security engineer Shakeeb Ahmed was sentenced to three years in prison followed by three years of supervised release in Southern New York District Court. Ahmed was found guilty of flash loan attacks on the decentralized Crypto Exchange and Nirvana exchanges in 2022.in a statement that Ahmed’s conviction was the first for hacking a smart contract. Ahmed was also ordered to forfeit $12.
Ahmed had offered to return all the funds stolen from Crypto Exchange except for $1.5 million if the exchange did not contact law enforcement. Nirvana offered him $600,000 for the return of funds, but Ahmed demanded $1.4 million, out of the $3.6 million he hacked, and no agreement was reached., and its native ANA coin fell by 85% on the news of the hack and closed shortly afterward.
“Using token-swap transactions; ‘bridging’ fraud proceeds from the Solana blockchain over to the Ethereum blockchain; exchanging fraud proceeds into Monero ; using overseas cryptocurrency exchanges; and using cryptocurrency mixers, such as Samourai Whirlpool.”Ahmed was employed as “a senior security engineer for an international technology company” at the time he carried out the attacks, according to the statement.
Ahmed was arrested in New York and charged in July with wire fraud and money laundering in connection with the hacks. He went on to plead guilty to a single charge of computer fraud in December.Ghostface Killah Ordinals drop today, Women & Weapons… violent? NFT Collector