A 22-year-old Canadian math prodigy is facing charges from the U.S. Department of Justice for his involvement in cryptocurrency hacking schemes that purportedly resulted in him making US$65 million in digital tokens. According to the unsealed indictment, Mr. Medjedovic is accused of exploiting vulnerabilities in decentralized financial platforms and laundering the proceeds of his illicit activities.
The document reveals that on October 14, 2021, Mr. Medjedovic allegedly purloined US$16.5 million in digital tokens from two liquidity pools managed by Indexed Finance. Furthermore, the indictment states that he allegedly tried to transfer around $42 million in fraudulently acquired crypto assets to the Ethereum blockchain by utilizing various Layer 2 bridges.