According to TechFlow, Amian Williams, the U.S. Attorney for the Southern District of New York, announced that former security engineer Shakeeb Ahmed was sentenced to three years in prison for hacking into two separate decentralized cryptocurrency exchanges and stealing more than $12 million worth of cryptocurrency.
Ahmed used fake pricing data to attack crypto exchanges, stealing approximately $9 million in fees, and carried out another attack on Nirvana Finance.
He used a variety of sophisticated techniques to launder the money, including converting the proceeds of the fraud into the hard-to-trace cryptocurrency Monero, and using overseas cryptocurrency exchanges and cryptocurrency mixers. The case is being handled by the Prosecutor's Office's Illegal Finance and Money Laundering Unit and the Complex Fraud and Cybercrime Unit.
