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Canadian national charged with stealing $65M from DeFi protocols KyberSwap and Indexed Finance

Canadian national charged with stealing $65M from DeFi protocols KyberSwap and Indexed Finance

CointimeCointime2025/02/04 02:22
By:Cointime

A Canadian national named Andean Medjedovic has been charged by US prosecutors for exploiting DeFi protocols KyberSwap and Indexed Finance, resulting in the theft of $65 million and money laundering. Medjedovic is accused of making "deceptive trades" to steal $16.5 million from liquidity pools on Indexed Finance in October 2021 and a similar attack on KyberSwap for $48.8 million in November 2023. Prosecutors allege that Medjedovic borrowed hundreds of millions of dollars in digital tokens and used them to engage in deceptive trading that caused the protocols' smart contracts to falsely calculate key variables. Medjedovic is currently at large, and his lawyers have not yet been identified.

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