The Feds Charge Former Engineer for $9 Million Cryptocurrency Hack
– Shakeeb Ahmed, a former senior security engineer, has been charged by the IRS and Homeland Security for hacking and exploiting a Solana-based cryptocurrency exchange.
– Ahmed allegedly exploited a vulnerability in the exchange’s smart contract, resulting in inflated fees worth approximately $9 million.
– He laundered the stolen funds through complex transactions on the blockchain and attempted to cover his tracks by using overseas cryptocurrency exchanges.
– Ahmed was tracked down through his online activities, including searches related to the attack and potential escape from the United States.
– Authorities are committed to holding fraudsters accountable and ensuring consumer confidence in the financial system.
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