A young Canadian hacker is now wanted after allegedly exploiting a “glitch” to loot $48.8 million in crypto from the decentralized finance (DeFi) protocol KyberSwap, according to a new indictment. The U.S. Attorney's Office for the Eastern District of New York alleges that Andean Medjedovic, 22, exploited vulnerabilities in the KyberSwap code in 2023.

Canadian national Andean Medjedovic has been accused of committing the $48-million exploit on DeFi protocol KyberSwap.

Federal prosecutors in the United States have charged a Canadian national with exploiting vulnerabilities across two decentralized finance protocols, alleging he stole millions in cryptocurrency and attempted to cover his tracks.

A 22-year-old Canadian man, Andean Medjedovic, has been charged by U.S. federal prosecutors for allegedly hacking two cryptocurrency platforms, KyberSwap and Indexed Finance, stealing a staggering $65 million.

U.S. prosecutors indicted Andean Medjedovic for hacking KyberSwap and Indexed Finance, stealing nearly $65 million through market manipulation.

Andean “Andy” Medjedovic, 22, has been on the run from authorities since 2021.

The US Department of Justice charged Andean Medjedovic with exploiting two crypto protocols, alleging he tried to extort one with a “sham settlement proposal.”

A federal court in New York unsealed on Feb. 3 a five-count criminal indictment against Andean Medjedovic for allegedly exploiting KyberSwap and Indexed Finance to steal $65 million. Medjedovic has not been apprehended by law authorities as of Feb. 3 and remains at large.

He purportedly exploited vulnerabilities in the smart contracts of KyberSwap and Indexed Finance to steal around $48.8 million and $16.5 million respectively.

The United States Department of Justice classify the case as one of the most sophisticated cybercrimes in recent memory, exploiting security flaws in cryptocurrency-based financial platforms.

Blockchain security firm Peckshield revealed on Feb. 26 that an exploiter labeled address associated with the Kyberswap hack had bridged approximately 800 ether tokens from Arbitrum to the Ethereum blockchain. On the same day, the Kyberswap team unveiled revised dates for reimbursing users impacted by the hacking.

A decentralized exchange (DEX), KyberSwap, recently suffered a considerable security breach that resulted in substantial financial losses. In a new twist, the hacker behind the breach transferred much of the stolen money, almost $2.5 million in Ether, from Arbitrum to the Ethereum network.

KyberSwap hacker shifts $2.5 million in stolen funds from Arbitrum to Ethereum, highlighting ongoing security challenges in the decentralized exchange space. KyberSwap's response includes offering grants to hack victims.

A wallet address linked to the KyberSwap exploiter was seen transferring $2.5 million from Arbitrum to Ethereum.

Web3 hacks and scams cost the ecosystem $1.83 billion in 2023 despite the amount of funds lost to exploits dropping by half compared with 2022.

The CEO of Kyberswap, the decentralized finance aggregator, revealed on Christmas Day that the platform recently laid off 50% of its workforce. The CEO added his organization is in the process of creating a voluntary database that is expected to help these workers secure new jobs in the Web3 space.

The platform, which was hacked in November, had to let staff go in order to free up funds to reimburse users.

KyberSwap, after a $48.8M hack, has halved its workforce and launched a reimbursement plan for affected users, showcasing the resilience of DeFi.

Decentralized finance (DeFi) platform Kyber Network has taken significant steps to address the aftermath of a massive security breach in November, with CEO and co-founder Victor Tran at the helm. Despite the challenges posed by the “Elastic exploit”, KyberSwap's core business, including the aggregator and limit order functions, remains fully functional, according to the latest statement.

The firm said it's priorities now are to keep KyberSwap's Aggregator and Limit Order functions up and running and to reimburse impacted customers.

Decentralized finance (DeFi) platform Kyber Network is cutting its staff in half following a large exploit earlier this year, according to its CEO and founder. In November, KyberSwap was exploited for $46.5 million worth of digital assets, including $20.78 million worth of Wrapped Ethereum (wETH), $9.53 million worth of Lido-wrapped staked Ethereum (wstETH), and $4.

Decentralized Finance (DeFi) firm Kyber Network is determined to bounce back after a recent security breach, pledging to reimburse affected users while rejecting the hacker's audacious demands to take control of the company.

KyberSwap, a leading decentralized exchange (DEX) aggregator, announced a 50% reduction in its workforce following a $54 million exploit earlier this month. CEO and co-founder Victor Tran announced the decision on social media on Dec. 25.

Kyber Network rebuilds after hacker exploit and theft; plans to boost sustainability and support affected users.

KyberSwap recently made sweeping changes in response to a significant setback caused by the Elastic exploit.

KyberSwap has reduced its workforce by 50% in response to challenges triggered by the Elastic exploit. In an X post on Dec.

In a recent post, Victor Tran, CEO and Co-founder of KyberNetwork, has unveiled a regret message of reducing the company's total workforce on the X platform. However, Tran added that despite KyberSwap facing unprecedented challenges following a security exploit, the platform shows resilience.

Following the Nov. 22 exploit, KyberSwap has announced a treasury grant program for affected users, according to a Dec. 20 release on their blog.

KyberSwap victims get paid based on selected options. Assets in five categories were impacted, with some partially recovered.

Blockchain security firm Cyvers said the KyberSwap exploiter's acquired funds were spread across various externally owned accounts (EOAs), now recognized as the top HXA token holders.

The blockchain security firm Cyvers has recently identified a significant security breach involving the Kyber Network, a prominent platform in the cryptocurrency exchange sector. This discovery comes after a series of high-profile security incidents that impacted various crypto platforms, including KyberSwap, during November.

In a significant development in the world of cryptocurrency security, Cyvers, a blockchain security company, has reported a suspicious transaction involving the KyberSwap exploiter. This transaction, identified as “abnormal” by Cyvers, involves the transfer of $50 million worth of HXA tokens, the native utility token of the Herencia Artifex NFT project.

The Platypus hacker managed to walk free from a court after claiming to be an ethical hacker despite stealing $8.5 million from the protocol.

In a stunning turn of events, the perpetrator behind the Kyberswap exploit has initiated an act of laundering. Reports indicate that approximately 4.5 million worth of stolen assets are already being funnelled into Tornado Cash, a renowned privacy-focused platform.

The KyberSwap hacker is moving funds into Tornado Cash, according to data from CertiK.

The grant is designed to ease the financial burden on affected individuals and will equal the USD equivalent of the assets lost in the security breach.

KyberSwap made an announcement on December 1st outlining their initiative to aid users affected by a recent security breach.

KyberSwap announced on Dec. 1 that it will offer grants in order to compensate users affected by a recent exploit. The decentralized exchange acknowledged that a recent attack drained $48.

After the unrealistic demands from its exploiter to take over the Kyber Network, the exploited decentralized exchange KyberSwap has made a different pivot in its revival push. The exchange said it will reimburse users who were exposed to the security breach recorded last month.

KyberSwap has revealed plans to offer financial support to affected users. The decentralized finance protocol suffered a substantial exploit on November 22, resulting in a loss of $48.8 million.

Law firm Cadena Legal said that the guidance released by the Australian Taxation Office is “non-binding” and must be treated as “toilet paper.”

Victims who lost and have not recovered funds from the hacked liquidity pools will get a grant equivalent to the funds in USD.

In the aftermath of the recent KyberSwap Elastic incident, Kyber Network has announced its intention to provide compensation to victims. Coincu News

In a daring move that has sent shockwaves through the cryptocurrency and decentralized finance (DeFi) communities, a mysterious hacker who infiltrated the Kyber Network in November has demanded complete control of the protocol, including governance infrastructure.

Both parties failed to reach an agreement on the safe return of the stolen assets despite Kyber offering the hacker 10% of the funds, which amounted to $4.3 million.

KyberSwap, a decentralized exchange aggregator, faced a breach by an unknown hacker who demanded control in exchange for returning the stolen funds, setting conditions for Kyber's governance.

The hacker demanded complete authority over the governance mechanism of KyberSwap, and the surrender of both on-chain and off-chain assets.