Shakeeb Ahmed, its former security engineer Amazon, was sentenced to three years in prison for hacking two crypto exchanges in July 2022. Ahmed's attacks allowed the theft of over $12 million in cryptobodies.
In addition to the prison term, Ahmed was sentenced to three years of supervised release and ordered to repay the stolen $12,3 million, as well as pay restitution to the two affected companies.
Ahmed's victims:
- Nirvana Finance: Decentralized cryptocurrency exchange
- Anonymous Exchange: It worked on the platform blockchain Solana
The confession and the trial:
Ahmed pleaded guilty to one count of computer fraud in December 2023. His trial took place earlier this year, with the court imposing a three-year prison sentence.
Important places:
- Ahmed's case is a disturbing example of the threats crypto exchanges face from hackers.
- The use of security expertise for malicious purposes, as in Ahmed's case, highlights the need for enhanced better safety in the cryptocurrency industry.
- Ahmed's conviction sends a resounding message that cybercrime will not go unpunished.
