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The US court has ruled on a new case in the history of cryptocurrency! A security engineer named SHAKEEB AHMED has been sentenced to three years in prison for maliciously attacking two decentralized exchanges, and all stolen funds have been confiscated. This is the first time in the history of cryptocurrency that someone has been convicted for hacking smart contracts!
This case is quite convoluted. AHMED first attacked a DEX on July 2nd to 3rd, 2022, using false data to create $9 million in fictitious fees, then transferred the related fees using cryptocurrency. Then, on July 28th of the same year, he attacked Nirvana Finance, exploiting vulnerabilities in smart contracts to buy cryptocurrency at low prices and then sell it at higher prices within Nirvana Finance. As a result, he stole almost all of Nirvana Finance's $3.6 million in assets, leading to its rapid collapse.
Fortunately, the court's judgment was quite severe. AHMED not only faces three years in prison but also has to return all stolen funds and pay a total of $5 million in compensation to the two hacked exchanges. This is truly the cost of "invading" to the extreme!
This case tells us that no matter how novel or complex hackers' actions may be, they will ultimately not escape legal sanctions. Hopefully, such cases will serve as a warning to other potential hackers, urging them to think twice before acting and to refrain from seeking gains without effort, thereby harming innocent individuals and maintaining a healthy and safe online world and digital asset environment for everyone~ |
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Post time 18-4-2024 12:07:54