On February 3, the U.S. Department of Justice announced an indictment in Brooklyn federal court, charging Canadian citizen Andean Medjedovic with exploiting decentralized finance (DeFi) protocols KyberSwap and Indexed Finance, stealing approximately $65 million, and committing money laundering.

Medjedovic is accused of stealing $16.5 million from Indexed Finance in 2021 and then stealing $48.8 million from KyberSwap a year later. He also colluded with a relative to launder the funds through coin mixing and blockchain bridge services.

This is one of the largest DeFi scams and attacks ever, causing losses of tens of millions of USD for investors.

Loi Luu, CEO of Kyber Network, also shared this news:

X: Loi Luu


Currently, Medjedovic is wanted and there is no information about a lawyer representing him. The authorities are continuing to investigate and search for this individual to bring the case to light.

This story is a clear example of the complexity and dangers of decentralized financial (DeFi) protocols, as cybercriminals exploit vulnerabilities in the system to commit large-scale fraud and money laundering.
#Hacker #Kyberswap #DEFİ



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