Cryptocurrency Daily Thefoxposts.com

Senior security engineer Shakib Ahmed admitted to hacking the Nirvana Finance protocol and another unnamed decentralized exchange (DEX). According to the statement, Ahmed agreed to return $12.3 million obtained as a result of the exploit, as well as pay compensation in the amount of $5.07 million . The U.S. Attorney’s Office says in the summer of 2022, Ahmed took advantage of a vulnerability in the smart contract of an unnamed Solana-based exchange to steal funds. A few weeks later, the hacker carried out another attack on another Nirvana Finance project. Protocol officials offered him a $500,000 reward for return ing the funds, but the parties never reached an agreement. The Southern District of New York court found Shakib Ahmed guilty of hacking smart contracts and stealing assets. U.S. Attorney Damian Williams said Shakib Ahmed’s case is the first-ever conviction for such a hack: “My Office announced the first-ever arrest involving an attack on a smart ...

UK police have returned £8 million ($10 million) in bitcoin to a trader who was scammed six years ago, by a group that exploited a glitch in a crypto exchange to steal at least £22 million ($28 million) from users. On Saturday, the Lancashire Fraud and Cyber Crime unit reported it return ed the £8 million to the victim last week. Their funds were taken by a gang of Blackpool-based Crypto scammers that were sentenced earlier this year. The group reportedly stole untold millions from victims of the Australian crypto exchange CoinSpot in late 2017. Authorities say the gang used someone in Dubai to convert the stolen crypto into cash before the group laundered it through foreign online accounts. The gang struggled to spend all the money themselves and reportedly handed out £5,000 ($6,000) gift cards to strangers and bought cars for “people they met in the pub.” Delighted to report that earlier this week the Fraud and Cyber Teams worked together to return £8,000,000 of stolen bitc...