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Home » NY engineer pleads guilty to stealing millions from two crypto exchanges – The Record from Recorded Future News

NY engineer pleads guilty to stealing millions from two crypto exchanges – The Record from Recorded Future News

NY engineer pleads guilty to stealing millions from two crypto exchanges – The Record from Recorded Future News

A former security engineer for an international tech company pleaded guilty in federal court to hacking two decentralized cryptocurrency exchanges.As a result of these hacks in July 2022, U.S. citizen Shakeeb Ahmed, 34, illegally obtained over $12 million, according to the U.S. Department of Justice. Ahmed agreed to forfeit those funds, including more than $5 million in restitution to victims. He faces a maximum sentence of five years in prison.Ahmed exploited vulnerabilities in the smart contracts of the two exchanges: one called Nirvana Finance and another unspecified exchange based on the currency Solana. Smart contracts are digital agreements with the terms… 

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