{"id":100829,"date":"2025-02-04T13:25:11","date_gmt":"2025-02-04T13:25:11","guid":{"rendered":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/"},"modified":"2025-02-04T13:25:11","modified_gmt":"2025-02-04T13:25:11","slug":"22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m","status":"publish","type":"post","link":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/","title":{"rendered":"22-year-old math wiz indicted for alleged DeFI hack that stole $65M"},"content":{"rendered":"<div>\n<p>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.<\/p>\n<p>The scheme, alleged in an <a href=\"https:\/\/www.justice.gov\/opa\/media\/1388021\/dl\">indictment<\/a> unsealed on Monday, occurred in 2021 and 2023 against the DeFI platforms KyberSwap and Indexed Finance. Both platforms provide automated services known as \u201cliquidity pools\u201d that allow users to move cryptocurrencies from one to another. The pools are funded with user-contributed cryptocurrency and are managed by smart contracts enforced by platform software.<\/p>\n<h2>\u201cFormidable mathematical prowess\u201d<\/h2>\n<p>The prosecutors said Andean Medjedovic, now 22 years old, exploited vulnerabilities in the KyberSwap and Indexed Finance smart contracts by using \u201cmanipulative trading practices.\u201d In November 2023, he allegedly used hundreds of millions of dollars in borrowed cryptocurrency to cause artificial prices in the KyberSwap liquidity pools. According to the prosecutors, he then calculated precise combinations of trades that would induce the KyberSwap smart contract system\u2014known as the AMM, or automated market makers\u2014to \u201cglitch,\u201d as he wrote later.<\/p>\n<p><a href=\"https:\/\/arstechnica.com\/information-technology\/2025\/02\/man-indicted-for-two-alleged-defi-hacks-that-stole-65-million\/\">Read full article<\/a><\/p>\n<p><a href=\"https:\/\/arstechnica.com\/information-technology\/2025\/02\/man-indicted-for-two-alleged-defi-hacks-that-stole-65-million\/#comments\">Comments<\/a><\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. The scheme, alleged in an indictment unsealed on Monday, occurred in 2021 and 2023 against the DeFI platforms KyberSwap and Indexed Finance. Both platforms provide automated services known as \u201cliquidity pools\u201d that allow users to move cryptocurrencies from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[],"class_list":["post-100829","post","type-post","status-publish","format-standard","hentry","category-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>22-year-old math wiz indicted for alleged DeFI hack that stole $65M - UshopWell.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"22-year-old math wiz indicted for alleged DeFI hack that stole $65M - UshopWell.com\" \/>\n<meta property=\"og:description\" content=\"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. The scheme, alleged in an indictment unsealed on Monday, occurred in 2021 and 2023 against the DeFI platforms KyberSwap and Indexed Finance. Both platforms provide automated services known as \u201cliquidity pools\u201d that allow users to move cryptocurrencies from...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/\" \/>\n<meta property=\"og:site_name\" content=\"UshopWell.com\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-04T13:25:11+00:00\" \/>\n<meta name=\"author\" content=\"UShopWell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"UShopWell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\\\/\"},\"author\":{\"name\":\"UShopWell\",\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/#\\\/schema\\\/person\\\/6fd1f9e0ff932e534c86c70d5acff0fc\"},\"headline\":\"22-year-old math wiz indicted for alleged DeFI hack that stole $65M\",\"datePublished\":\"2025-02-04T13:25:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\\\/\"},\"wordCount\":186,\"publisher\":{\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/#organization\"},\"articleSection\":[\"Technology\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\\\/\",\"url\":\"https:\\\/\\\/ushopwell.com\\\/ublog\\\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\\\/\",\"name\":\"22-year-old math wiz indicted for alleged DeFI hack that stole $65M - 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The scheme, alleged in an indictment unsealed on Monday, occurred in 2021 and 2023 against the DeFI platforms KyberSwap and Indexed Finance. Both platforms provide automated services known as \u201cliquidity pools\u201d that allow users to move cryptocurrencies from...","og_url":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/","og_site_name":"UshopWell.com","article_published_time":"2025-02-04T13:25:11+00:00","author":"UShopWell","twitter_card":"summary_large_image","twitter_misc":{"Written by":"UShopWell","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/#article","isPartOf":{"@id":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/"},"author":{"name":"UShopWell","@id":"https:\/\/ushopwell.com\/ublog\/#\/schema\/person\/6fd1f9e0ff932e534c86c70d5acff0fc"},"headline":"22-year-old math wiz indicted for alleged DeFI hack that stole $65M","datePublished":"2025-02-04T13:25:11+00:00","mainEntityOfPage":{"@id":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/"},"wordCount":186,"publisher":{"@id":"https:\/\/ushopwell.com\/ublog\/#organization"},"articleSection":["Technology"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/","url":"https:\/\/ushopwell.com\/ublog\/22-year-old-math-wiz-indicted-for-alleged-defi-hack-that-stole-65m\/","name":"22-year-old math wiz indicted for alleged DeFI hack that stole $65M - 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