A 22-year-old Canadian, Andean Medjedovic, has been charged with stealing $65 million from two cryptocurrency platforms using advanced hacking techniques. U.S. prosecutors say he targeted Indexed Finance in 2021 and KyberSwap in 2023. Despite facing charges, he has managed to evade authorities since 2021.
Shocking, but true. Here’s what you should know.
A U.S. court in Brooklyn has officially charged Medjedovic with wire fraud, computer hacking, and attempted extortion. Prosecutors say he exploited security flaws in crypto platforms to steal millions.
According to the charges, he borrowed a large number of tokens, manipulated prices through strategic trades, and then withdrew the funds for profit—deceiving investors in the process.
By targeting weaknesses in smart contracts, he drained $49 million from KyberSwap and $16 million from Indexed Finance.
John Durham, acting U.S. attorney in Brooklyn, warned that those who use technology to scam investors will be pursued, no matter where they are.
Medjedovic was once a promising master’s student at the University of Waterloo. However, Canadian courts had already charged him for the Indexed Finance hack, with one judge describing his “formidable mathematical powers” in orchestrating the theft.
His online activity suggests he sees himself as a “pirate” operating in a legal gray area. Despite being wanted in Canada, he remained active in the crypto world. According to court filings, he even tried to negotiate control over KyberSwap in exchange for returning part of the stolen funds.
The crypto world has seen a surge in financial crimes. Just last year, two men were charged with stealing $230 million in digital assets and spending lavishly in Los Angeles and Miami.
Additionally, the founder of a French crypto company was kidnapped and held for ransom before being released.
With Bitcoin surpassing $100,000 and digital assets becoming more valuable, cybercriminals are finding new ways to exploit the system.
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