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Revealing searches for the theft of millions: Hackers apparently overwhelmed by the DeFi hack
Title: DeFi Hacker Arrested: US Authorities Catch Computer Engineer Subtitle: Hacker Fails to Steal Millions on Decentralized Exchange Computer engineer Shakeeb Ahmed was recently arrested in the US after allegedly stealing $9 million by attacking a decentralized exchange (DEX). The authorities were put on his trail by his own excessive demands, according to documents from a New York court. After the hack, Ahmed's Google searches were clear evidence of his hecticness and helplessness. Among other things, he wanted to find out how he could protect his stolen money from the authorities without thinking that he might use it...
Revealing searches for the theft of millions: Hackers apparently overwhelmed by the DeFi hack
Title: DeFi hacker arrested: Authorities in the USA catch computer engineer
Subtitle: Hacker fails to steal millions on decentralized exchange
Computer engineer Shakeeb Ahmed was recently arrested in the US after allegedly stealing $9 million by attacking a decentralized exchange (DEX). The authorities were put on his trail by his own excessive demands, according to documents from a New York court. After the hack, Ahmed's Google searches were clear evidence of his hecticness and helplessness. Among other things, he wanted to find out how he could protect his stolen money from the authorities without considering that it might leave him undetected.
Ahmed searched for terms like “How can I prevent the government from seizing my assets?”, “Can I cross national borders with crypto?” or “DeFi hacks FBI”. He allegedly wanted to check whether his crime was already known. After learning about the possible consequences, he is said to have made an offer to the DEX: he would return the stolen money, but kept $1.5 million for disclosing the security flaw.
This incident is reminiscent of the hack of DeFi platform Mango Markets, in which the attacker promised to return the stolen funds if the team refrained from prosecution. Nevertheless, he could not escape charges of goods fraud and goods manipulation. Ahmed had a similar experience. A judge explained in the filing that it makes no difference whether someone steals money from a bank or defrauds a decentralized crypto exchange - both are simply frauds.
Although Ahmed used a VPN (Virtual Private Network) during the attack, he was apparently unable to cover his tracks. The US Tax Investigation Department's Cyber Crimes Division said in a statement that he was "no match" for her. However, Ahmed's arrest represents an isolated incident as hacks still occur regularly in the DeFi sector, resulting in millions of dollars being lost and few perpetrators being caught. Last year a total loss of five billion US dollars was recorded. Fortunately, according to a recent report, the number of crypto crimes is generally declining.