US Charges Hacker over $65M Theft from DeFi Projects

The US Justice Department indicted a Canadian citizen accused of stealing around $65M from KyberSwap and Indexed Finance. He exploited code vulnerabilities to drain liquidity pools and allegedly blackmailed developers. Investigators say he manipulated prices, using crypto mixers to launder funds.

Authorities discovered he converted part of the loot via blockchain bridges. The hacker also demanded control over Kyber in exchange for partially returning stolen assets.

If found guilty, he faces over 20 years in prison. This case deals a blow to DeFi’s reputation and highlights ongoing vulnerabilities in decentralized platforms.