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22-year-old math wiz indicted for alleged DeFI hack that stole $65M
22-year-old Andean Medjedovic of Canada could spend decades in prison if convicted.
Federal prosecutors have indicted a man on charges he stole $65 million in cryptocurrency by exploiting vulnerabilities in two decentralized finance platforms and then laundering proceeds and attempting to extort swindled investors. Medjedovic used hundreds of millions of dollars in borrowed cryptocurrencies to distort a process called “re-indexing,” which was used by the Indexed Finance smart contracts to add a new token to the liquidity pools. A charging document in that case alleged he leveraged his “formidable mathematical prowess to devise and unleash a complex computer attack against Index Finance and essentially induced it to send him $15 million in others’ cryptocurrency tokens.”
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