US prosecutors have filed charges against a 22-year-old Canadian individual, accusing him of orchestrating two major decentralized finance (DeFi) hacks, resulting in the theft of $65 million in cryptocurrency. The indictment, recently unsealed in the Eastern District of New York, alleges that Andean 'Andy' Medjedovic was the mastermind behind the 2021 Indexed Finance exploit and the 2023 KyberSwap hack. Medjedovic had previously admitted to being the perpetrator of the Indexed Finance attack, which occurred when he was still a teenager and resulted in the loss of $16 million for the DeFi platform. The KyberSwap hack, which took place in 2023, saw Medjedovic allegedly steal around $50 million.
The accused has been on the run since December 2021, when a Canadian court issued a warrant for his arrest. If caught and convicted, Medjedovic faces a maximum penalty of 90 years in prison for charges including wire fraud, unauthorized damage to a protected computer, and money laundering.