Security Engineer Sentenced to Three Years for Smart Contract Hack and Crypto Theft
Security Engineer Sentenced for Crypto Theft
Former security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking into two decentralized exchanges and stealing $12 million worth of cryptocurrencies.
First-Ever Smart Contract Hacking Conviction
The case involving Ahmed is significant as it represents the first instance of a smart contract hacking conviction, shedding light on the vulnerabilities within the decentralized finance sector.
The sentence underlines the importance of strengthening cybersecurity protocols to safeguard against such breaches and protect investor assets in the digital asset space.
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