TechFlow reports, on Thursday the U.S. Attorney's Office for the Southern District of New York announced that 34-year-old senior security engineer Shakeeb Ahmed admitted to attacking the Nirvana Finance protocol and another unnamed decentralized cryptocurrency exchange. Ahmed has agreed to forfeit $12.3 million obtained from the two hacks and will pay $5 million in restitution to victims. Ahmed faces up to five years in prison and is scheduled to be sentenced on March 13, 2024.
It is reported that last year, the algorithmic stablecoin protocol Nirvana Finance suffered a flash loan attack, losing approximately 3.54 million USDC.
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