DeFi Hacker Sentenced to 3 Years in Prison
Friday, 12 April 2024, 21:30
Former Amazon Engineer Sentenced for Hacking DeFi Protocols
In a landmark legal action, former Amazon engineer Shakeeb Ahmed was sentenced to three years in prison for orchestrating hacks on two DeFi cryptocurrency exchanges, resulting in over $12 million theft.
Significant Milestone in Crypto Law Enforcement
- Manipulation of Smart Contracts: Ahmed used reverse engineering and blockchain audits to exploit smart contracts on exchanges.
- First-Ever Conviction: US District Judge Victor Marrero's ruling marks the first conviction for hacking a smart contract.
In a notable case of cybercrime, Ahmed targeted cryptocurrency exchanges through sophisticated hacks and laundering techniques, resulting in substantial financial losses.
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