It has been just revealed the fact that the US authorities are charging a cybersecurity engineer with stealing a massive amount of money from DEX. Check out the latest reports below.
US authorities are charging a cybersecurity engineer
Just recently, Damian Williams, the United States Attorney for the Southern District of New York, has disclosed that a former cybersecurity expert has been indicted for hacking an international decentralized crypto exchange (DEX) and stealing $9 million worth of crypto assets.
The accused, Shakeeb Ahmed, allegedly executed the attack in July 2022, where he took advantage of a vulnerability in the Solana (SOL)-based DEX.
A senior security engineer, who was 34 years old at the time of the incident, is alleged to have caused the platform’s smart contract to generate inflated fees of $9 million by inserting false pricing data.
The accused then withdrew the fees in cryptocurrency and attempted to conceal the origin and ownership of the funds through laundering. Additionally, the accused tried to avoid being prosecuted.
“After he stole the fees he never legitimately earned, AHMED had communications with the Crypto Exchange in which he decided to return all of the stolen funds except for $1.5 million if the Crypto Exchange agreed not to refer the attack to law enforcement.”
He continued and said the following:
“After the attack, AHMED searched online for information about the attack, his own criminal liability, criminal defense attorneys with expertise in similar cases, law enforcement’s ability to successfully investigate the attack, and fleeing the United States to avoid criminal charges.”
On Tuesday, Ahmed was taken into custody in New York and is now being charged with wire fraud and money laundering. If convicted, he could face a maximum sentence of 20 years for each offense.
The future of the US dollar
The future of the US dollar and the American empire itself is now firmly in doubt, according to a financial analyst and former Goldman Sachs executive.
Charles Nenner, who worked as head of market timing at Goldman for more than 10 years, says he’s reversing his long-held belief that the dollar will remain strong.
In a new interview with USAWatchdog, Nenner stated the fact that the group of economically-aligned nations known collectively as BRICS is a much bigger threat to USD than people realize.
