The US Ministry of Justice charged a Canadian to have stolen about $ 65 million after having operated two decentralized funding protocols (DEFI).
DEFI platforms are blockchain -based systems that facilitate peer financial services, eliminating the need for conventional centralized financial intermediaries such as banks or brokerage houses.
These platforms provide various financial services related to digital assets, allowing their users to lend, invest, earn interest and exchange assets via smart contracts and decentralized applications (DAPP).
As revealed in Documents22 -year -old Andean meddovic would use vulnerabilities in the automated intelligent contracts used by the Kyberswap And Indexed funding Decentralized exchange aggregators and operators of digital tokens liquidity pools on the Ethereum network.
In total, it drained approximately $ 48.4 million in digital tokens from 77 Elastic Kyberswap elastic pools and approximately $ 16.5 million from two indexed financial pools (also known as Pools index).
In November 2023, after having exploited Kyberswap, he would have tried to extort the victims with a false settlement proposal, demanding control of the Kyberswap protocol and its decentralized organization in exchange for the return of half of the stolen assets.
“Medjedovic borrowed hundreds of millions of dollars in digital tokens, which he used to engage in deceived exchanges which, according to him, would lead to intelligent contracts of the protocols to falsely calculate the key variables”, the American doj said In a press release on Monday.
“Thanks to its misleading professions, Medjedovic was able, and ultimately, withdraw millions of dollars in protocol investors at artificial prices, making the investments of victims essentially worthless.”
Medjedovic is also accused of having bleached the product of its fraudulent operations through transactions that have hidden the source of the funds using an open crypto exchange accounts using false identification, a crypto mixer -Mons and exchange transactions.
He is accused of a wire fraud chief, an unauthorized damper chief to a protected computer, a chief of attempted extortion Hobbs Act, a conspiracy chief to commit money laundering and a silver laundering chief.
If it is found guilty, MedoDovic could incur a maximum sentence of 10 years for unauthorized damage to a protected computer and up to 20 years for each of the other accusations.
