EddieJayonCrypto
4 Feb 25
Andean Medjedovic, a 22-year-old Canadian man, has been indicted for allegedly exploiting vulnerabilities in decentralized finance protocols to fraudulently obtain approximately $65 million from investors, including those in the U.S. The indictment charges him with manipulating smart contracts of de...
Canadian man Andean Medjedovic has been indicted for exploiting DeFi protocols to fraudulently obtain $65 million. Facing charges including wire fraud, money laundering, and unauthorized computer damage, he allegedly manipulated smart contracts, engaged in deceptive trades, and attempted to extort protocol developers. Law enforcement globally continues cracking down on cyber-enabled financial crimes.
Medjedovic, a 22-year-old Canadian man, has been indicted for allegedly exploiting vulnerabilities in decentralized finance protocols to fraudulently obtain approximately $65 million from investors, including those in the U.S. The indictment charges him with manipulating smart contracts of decentralized exchange aggregators KyberSwap and Indexed Finance, withdrawing investor funds at artificial prices. Medjedovic faces charges including wire fraud, unauthorized damage to a protected computer, attempted Hobbs Act extortion, and money laundering. He remains at large, and law enforcement agencies, with support from the Netherlands, are actively pursuing his whereabouts. The indictment reveals detailed tactics used by Medjedovic to obscure the flow of money, including engaging in deceptive trades and opening accounts at crypto exchanges using false and borrowed identities.