Andean Medjedovic, a graduate of Mathematics at Waterloo, is facing the charges of telegraph fraud, computer piracy, gasp attempt and black money laundering, in connection with the use of vulnerabilities in Kyberswap and Indexed Finance systems, as the Justice Department announced on February 3.

According to the charges, Medjedovic manipulated smart contracts on both platforms and deceived automatic systems with deceptive operations to miscalculate key values. Using these deficits, it is claimed that he attracted $ 48.8 million from Kyberswap in 2023 and $ 16.5 million from Indexed Finance in 2021.

The indictment states that Medjedovic has managed to withdraw millions of dollars of investor funds at artificial prices, with deceptive transactions. This made the investments of the victims almost worthless.

The prosecutors added that Medjedovic has planned Kyberswap deficits meticulously for several months, and that he kept a directory of files tagged with terms such as “Kyber_kıll” and “Templateexploit”.

In addition, he created a list called “Pool HIT LIST, to determine the liquidity pools to be targeted, and strategically timed the attack; “Find time to attack! He took notes in CEO HO-chi ”. He calculated the optimal time to make the attack coincided with a time when the American and Europeans would probably fit.

After the attack, the prosecutors allegedly stipulated to return 50 %of the stolen funds, and tried to blackmail KYBERSWAP developers, investors and DAO members to seize the protocol.

At the same time, he carried out studies to erase his traces. Medjedovic and a partner performed a washing process by mixing the funds between various networks through crypto mixers and Blockchain bridges to conceal the stolen crypton’s source. He also opened accounts on crypto exchanges using fake identities and tried to cash their assets without attracting attention.

Moreover, when a bridge protocol freezes processes, Medjedovic is claimed to have paid $ 85,000 to a secret law enforcement agent, which he believes to be a developer that can overcome restrictions and unlock the frozen $ 500,000 crypton.

In the event of a prisoner, Medjedovic may face up to 20 years for each of the crimes of telegraph fraud, usurpation and money laundering, and up to 10 years imprisonment for damaging an unauthorized computer.

The Netherlands National Police Cyber ​​Crime Unit and the law enforcement officers, including US prosecutors, are still in the pursuit of Medjedovic, who is still deserted.

On December 20, 2023, Kyberswap announced a Treasury program to compensate users affected by hacking.

Kyberswap protocol, in an recent X post, said that this grant program was completely distributed to 1,371 buyers.