The US Department of Justice has charged Canadian national Andean Medjedovic with exploiting two decentralized finance (DeFi) protocols, KyberSwap and Indexed Finance, leading to an estimated theft of $65 million. The charges, unsealed on February 3, 2025, in a Brooklyn federal court, include attempted extortion, money laundering, and wire fraud. Medjedovic allegedly executed deceptive trades, stealing approximately $16.5 million from Indexed Finance in October 2021 and around $48.8 million from KyberSwap in November 2023. His actions caused key variables to be miscalculated within the protocols, allowing for fraudulent withdrawals. Following the KyberSwap exploitation, prosecutors accuse Medjedovic of attempting to extort the victims through a false settlement proposal, demanding 50% of the stolen assets in return for their safe return. Additionally, he allegedly conspired to launder the stolen funds via a crypto mixer and various blockchain transactions, including paying an undercover agent to recover some funds that had been frozen. Medjedovic is reportedly at large with no available information about his legal representation.

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