2024

Wormhole

April

Shakeeb Ahmed, a 34-year-old former security engineer, has been <a href="https://www.justice.gov/usao-sdny/pr/former-security-engineer-sentenced-three-years-prison-hacking-two-decentralized" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">sentenced</a> to three years in prison in a landmark legal case marking the first-ever conviction for smart contract hacking. This incident involved stealing over $12 million from two decentralized crypto exchanges.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🔔 Ex-Security Engineer Sentenced to Three Years for Hacking Two Decentralized <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">#Crypto</a> Exchanges ! Former security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking two decentralized crypto exchanges and stealing over $12 million worth of crypto.… <a href="https://t.co/YYA7rIdfOx" target="_blank" data-wpel-link="external" rel="noopener noreferrer nofollow">pic.twitter.com/YYA7rIdfOx</a>— Altcoin Alerts (@Altcoin_Alerts) <a href="https://twitter.com/Altcoin_Alerts/status/1778821441397653925?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 12, 2024</a>
 </blockquote>
 </div>
</figure>
The sentencing, declared by the Southern District of New York, marks a milestone in addressing cybercrimes within the blockchain sector. Besides the prison term, Ahmed is required to forfeit approximately $12.3 million and pay $5 million in restitution.&nbsp;
This case underscores the judiciary’s resolve to combat sophisticated financial crimes, ensuring that technological advancements do not shield criminal activities.
Ahmed, expressing remorse in court, acknowledged losing his ethical path during the pandemic, which led him to exploit his technical prowess inappropriately. His actions violated the trust of the digital finance community. This sentencing serves as a stern reminder of the severe consequences awaiting those who misuse their expertise in the rapidly evolving crypto landscape.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also read: <a href="https://www.cryptotimes.io/2024/04/06/wormhole-hacker-entitled-to-over-50000-worth-of-w-tokens/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Wormhole Hacker Entitled to Over $50,000 Worth of W Tokens</a>
</blockquote>

Crypto Hacker Shakeeb Sentenced in First-Ever Smart Contract Hacking Conviction

The Crypto Times

Autres articles publiés le 12 avr. 2024

LUNC Price: Why Buy Terra Classic Amid Bloodshed And Uncertainty

Empowering Filipinos: Tether and Coins.ph Launch Blockchain Education Initiative

Dogecoin Set to Skyrocket Post-Runestone Airdrop, Shiba Inu and Raboo Presale Catch Investor Eyes

Cryptocurrency Render Down More Than 3% Within 24 hours

BU Task Force Recommends Cautious Use of AI-Detector Apps and a Critical Approach to AI

'Divine' Bitcoin Message Issued by Michael Saylor Leaves Community Pondering

Join our free newsletter for daily crypto updates!