April 12, 2024 at 01:58PM
Former Amazon security engineer Shakeeb Ahmed was sentenced to three years in prison for hacking two cryptocurrency exchanges in July 2022, stealing over $12 million. He was also ordered to forfeit $12.3 million and pay restitution to the breached companies. Ahmed used smart contract engineering skills to execute the hacks and evade detection.
The meeting notes provide a thorough overview of the case involving Shakeeb Ahmed, a former Amazon security engineer who was sentenced to three years in prison for hacking two cryptocurrency exchanges and stealing over $12 million. Ahmed utilized his skills in smart contract reverse engineering and blockchain audit to carry out the attacks. The breached entities were identified as Nirvana Finance, a decentralized crypto exchange, and an unnamed exchange on the Solana blockchain platform.
The notes also detail how Ahmed targeted the exchanges and the methods he used to manipulate the systems, such as introducing false pricing data and exploiting a loophole in the Nirvana Finance DeFi protocol smart contract. Additionally, it’s worth noting that Ahmed tried to obscure the digital trail of the stolen funds by using various cryptocurrency mixers and sought ways to evade detection and extradition.
The impact of these actions led to significant financial losses for the affected exchanges, with Nirvana Finance ultimately shutting down as a result. The meeting notes highlight the determination of law enforcement to pursue and bring hackers to justice, emphasizing the consequences of such destructive hacks.
In summary, the meeting notes provide a comprehensive picture of the case, detailing the criminal activities of Shakeeb Ahmed, the impact on the targeted exchanges, and the subsequent legal actions taken.