Security Engineer Pleads Guilty For Hacking into Cryptocurrency Exchange

Within the intricate tapestry of the cyber panorama, Shakeeb Ahmed’s saga transcends the customary, that good points a downfall unparalleled in its significance—the inaugural conviction for hacking a colorful contract.

A tale of ambition, greed, and the inexorable hand of justice unfolds on this right-life techno-thriller.

Once a senior safety engineer safeguarding the digital realm, Ahmed’s trip took a malevolent flip in July 2022.

His target: two decentralized cryptocurrency exchanges, an unnamed platform, and Nirvana Finance.

The very skills that after right methods had been now wielded for spoiled functions.

The Two-Fold Attack

In step with the advisory, Ahmed implemented his preliminary assault on the Crypto Change with mighty precision and managed to milk a vulnerability successfully. On tale of this, he became as soon as ready to generate a whopping $9 million in illicit prices.

Unsated, he pivoted to Nirvana Finance, deploying a “flash mortgage” to maintain a watch on super contracts and drain $3.6 million, sealing Nirvana’s fate.

No topic Ahmed’s makes an strive to erase his digital fingerprints through token-swapping and cryptocurrency laundering, investigators from Fatherland Security and IRS-CI meticulously traced his steps.

The digital breadcrumbs ended in a net of deceit that even his delicate maneuvers couldn’t fully conceal.

The Tumble of the Home of Cards

In a self-incriminating twist, Ahmed’s on-line searches for “defi hacks prosecution” and “fleeing the U.S.” illuminated his determined makes an strive to obtain away justice.

In July 2023, his intricate residence of cards collapsed, compelling him to confess and forfeit the stolen hundreds and hundreds.

Ahmed(34) entered a guilty plea to one depend of computer fraud, carrying a most penalty of 5 years’ imprisonment.

Moreover, he agreed to compensate his victims with a entire of $5,071,074.23.

U.S. Attorney Williams counseled the astounding work of Fatherland Security Investigations and the Interior Earnings Provider’s Legal Investigation division, extra expressing gratitude to the U.S. Attorney’s Assign of abode of enterprise within the Southern District of California for his or her contribution to the investigation.