News View Non-AMP

Canadian Hacker Charged After Stealing $65M in Crypto – Still on the Run?

Published by
Mustafa Mulla

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.

Understanding the Allegations

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.

From Promising Student to Crypto Fugitive

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.

Crypto Crimes on the Rise

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.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Why Is Bitcoin Price Down Today? Whale Dump and Liquidations Rock Crypto Market

Bitcoin price today is facing fresh turbulence during a dramatic “crypto week,” as a Satoshi-era…

July 15, 2025

US CPI Data Release Could Trigger Massive Crypto Rally—Here’s Why

Federal Reserve Chair Jerome Powell is facing one of his toughest weeks of his career.…

July 15, 2025

Crypto vs Cards: Why SpacePay May Finally Bridge the Gap in Real-Life Payments

Many of us use cards every day; we swipe and tap, and in a few…

July 15, 2025

NYSE Arca Approves ProShares Ultra XRP ETFC and Solana Listings

NYSE Arca, the top US exchange for listing and trading, has officially certified its approval…

July 15, 2025

From $4 to $10, This Altcoin Could Explode 3X in Crypto Bull Run 2025

Sui is lighting up the altcoin market with a 38.35% weekly gain and a 1.19%…

July 15, 2025

Rising Shiba Inu (SHIB) Rival Poised to Soar from Under $0.002 to $2, Could Make You a Millionaire

The meme coin universe has always thrived on bold stories, viral communities, and insane price…

July 15, 2025