Young Hacker Charged with $65M Crypto Heist

The U.S. Department of Justice has charged 22-year-old Andean Medjedovic with two hacking attacks totaling $65 million. Court documents reveal that Medjedovic admitted to profiting approximately $16 million from the DeFi protocol Indexed Finance in October 2021. He is also believed to be the mastermind behind the November 2023 attack on KyberSwap, which resulted in approximately $48 million in cryptocurrency losses for the protocol and its users. The hacker later sent around $2 million in cryptocurrency to a wallet believed to be controlled by Medjedovic.

Medjedovic faces five charges, including fraud, money laundering, and extortion. On Monday, he did not respond to multiple requests for comment.

The charges come as the U.S. government continues to crack down on cybercrime, particularly in the cryptocurrency space. The Department of Justice has been increasingly focused on prosecuting hackers who target decentralized finance (DeFi) protocols and other cryptocurrency platforms.

The Indexed Finance and KyberSwap hacks are just two of many high-profile cyberattacks that have occurred in recent years. As the cryptocurrency industry continues to grow, so too does the risk of hacking and other forms of cybercrime. The U.S. government's efforts to prosecute hackers like Medjedovic are an important step in protecting the integrity of the cryptocurrency ecosystem.