Crypto Hacker Gets 3 Years for Smart Contract Exploit

Former security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking two decentralized cryptocurrency exchanges and stealing over $12 million.

Exploiting Crypto Vulnerabilities

Ahmed manipulated fake pricing data to steal $9 million from one exchange. He then targeted Nirvana Finance, exploiting a vulnerability to buy and resell crypto assets at inflated prices.

From Security Expert to Cybercriminal

Ahmed used advanced money laundering techniques to hide the stolen funds. He transferred them between different blockchains and used cryptocurrency mixers.

Sentence and Forfeiture

Ahmed has been ordered to forfeit the stolen crypto and pay over $5 million in restitution. He will also serve three years of supervised release after his prison sentence.

Statement from US Attorney

US Attorney Damian Williams emphasized that the government is committed to pursuing crypto hackers and holding them accountable for their crimes. He warned that hackers face prison time and forfeiture of stolen funds.