"22-Year-Old 'Crypto Pirate' Charged with $65M Heist"

A 22-year-old Canadian national, Andean Medjedovic, has been charged by U.S. authorities for allegedly stealing $65 million in cryptocurrency through a series of sophisticated hacks targeting Indexed Finance and KyberSwap. The young hacker, who once studied at the University of Waterloo, has been evading authorities since 2021.

Medjedovic is accused of exploiting vulnerabilities in the smart contracts and price manipulation techniques to drain funds from the platforms. He borrowed a large number of tokens, manipulated prices through trades, and then took the tokens to make a profit, cheating investors. In total, he is alleged to have stolen $49 million from KyberSwap and $16 million from Indexed Finance.

U.S. prosecutors have charged Medjedovic with wire fraud, computer hacking, and attempted extortion. John Durham, acting U.S. attorney in Brooklyn, warned that individuals who misuse technology to deceive investors will be pursued, no matter where they operate.

Medjedovic's digital footprint suggests he sees himself as a "pirate" who operates in a legal gray area. Despite being wanted in Canada for the Indexed Finance hack, he remained active in the crypto space and even attempted to negotiate control over KyberSwap in exchange for returning part of the stolen funds.

The crypto world has seen a surge in financial crimes in recent years. In 2022, two men were charged with stealing $230 million in digital assets and spending lavishly in Los Angeles and Miami. Additionally, the founder of a French crypto company was kidnapped and held for ransom before being released. As Bitcoin and digital assets become more valuable, cybercriminals are finding new ways to exploit the system.