Summary: A Canadian-Andean, Medjedovic, has been accused of stealing cryptocurrency from two platforms, worth $65 million, and laundering that amount. On the run for 4 years now, he has still kept his hand in the crypto space, including trying to manipulate projects for his benefit.
Medjedovic, a former University of Waterloo master’s student, was accused of hacking Indexed Finance and KyberSwap, draining $49 million from the former and $16 million from the latter. Using his advanced math skills, he allegedly exploited smart contract vulnerabilities to manipulate token prices and make massive profits at the expense of investors. Even after being charged, he reportedly tried to negotiate control of KyberSwap in exchange for returning some stolen funds.
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A lawsuit filed in Canada and an Interpol warrant out for alleged financial crimes did not deter Medjedovic, who continued to be involved with crypto. His web presence indicated he considers himself some sort of “pirate” operating in the legal gray areas. The U.S. has taken over the prosecution, with the case led by the National Cryptocurrency Enforcement Team, NCET. According to Acting U.S. Attorney John Durham, criminals leveraging new technology to steal from investors will be brought to book, no matter where they have been hiding.
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