US accuses Canadian math prodigy of $65M crypto scheme New York feds today unsealed a five-count criminal indictment charging a 22-year-old Canadian math prodigy with exploiting vulnerabilities in two decentralized finance protocols, allegedly using them to fraudulently siphon around $65 million from investors in the platforms. Prosecutors allege Andean Medjedovic abused automated …
And work on an attack against Trump's memcoin. If he can drive the value of those to zero he will be a public enemy number one on the FBI's most wanted list, but he'll be a hero to Trump haters everywhere for hitting the orange moron where it hurts most - in his wallet! And these days there are a LOT of Trump haters in Canada so he shouldn't have any difficulty finding people willing to help him stay in hiding!
If you're worried your tulips might be worthless so you want to exchange them for daffodils, or you're worried the dyke might fail and flood your tulips so you want to move them to a safer warehouse, well you can buy my fun new buttercups (aka Kyber Network Crystals) and my poorly written trading software (aka automated smart contracts) will do those trades for you in an unnecessarily elaborate way, in return for a fee and/or some risk of all your tulips ending up in the hands of 'math prodigy'.
1. Unauthorized damage to a protected computer - No, he used their own broken code to beat the system, no physical damage to the system can be proven, no different to somebody beating the odds at gambling
2. Wire fraud - Yes
3. Attempted Hobbs Act extortion
4. Money laundering charges
He's going down though, when they catch him, although a few millions Dollars, you can live well in a country with no USA extradition treaty.
Generally, in those countries, sooner or later, the local organized criminals find you, beat the crap out of you until you cough up any keys/passwords they need to steal your money, and then they give you a dirt nap to tie up the loose ends.
It's solved the same way - in fact more easily - that fraudulently obtained regular currency is dealt with. The exchanges/banks refuse to move it around and so, unless it's a small amount you can pay your cryptobro milkman with, you're stuck exposing it to money laundering risk and write-down, or you accept it's permanently stuck in the black market and buy a stolen van Gogh with it, or whatever.
Yep, the 'code is law' view is interesting. But, it's a matter of... if you use social engineering, 'brain hacks', pig butchering, erc. to get a person to hand over cash, you are defrauding them. Even though they are giving you money fully volintarily. So clearly (at least to me) this is the same. You're not committing theft perhaps but are committing fraiud using this technique to receive funds with smart contracts.
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