Nirvana Finance Hacker Will Return $12.3M of Stolen Funds
The individual responsible for hacking into the Nirvana Finance yield farming protocol and an unamed DEX has plead guilty and agreed to forfeit $12.3 million worth of stolen assets.
As reported by the US Attorney’s Office, senior security engineer Shakib Ahmed, aged 34, took advantage of a vulnerability in the smart contract of an unnamed exchange in the summer of 2022.
A few weeks later, he used an instant loan on Nirvana Finance and made off with $3.49 million in cryptocurrency from the project’s treasury.
Despite attempts to negotiate a reward with the protocol developers, an agreement was not reached.
The hacker then exchanged the stolen funds for Monero and moved them through a Samourai Whirlpool mixer.
In July, Ahmed was officially charged with wire fraud and money laundering. Along with losing the confiscated crypto, he was also ordered to pay $5 million in restitution to the victims.
Ahmed’s final sentence will be pronounced on March 13th and he could face up to five years in prison.
