US DoJ Charges Engineer in First Attack on a Smart Contract
DoJ and the DeFi Fraud Crackdown According to Damian Williams, the U.S. attorney for the Southern District of New York, Shakeeb, a former security engineer for an international tech company, defrauded the DEX platform about $9 million in cryptocurrency. The 34-year-old was also indicted of wire fraud as he attempted to launder the funds through complex transfers on different blockchains at home and abroad. advertisement Despite his extensive money laundering strategy, Shakeeb was unable to cover his tracks completely as the enforcement team duly tracked the funds that eventually resulted in his arrest. “Shakeeb Ahmed, who was a senior security engineer at an international technology company, used his expertise to defraud the exchange and its users and steal approximately $9 million in cryptocurrency,” Damian Willians said in a statement. “We also allege that he then laundered the stolen funds through a series of complex transfers on the blockch...