“The US Federal Court accused the Canadian Anddan Medzedovich of fraud, breaking, attempted extortion and laundering of money in connection with theft of about $ 65 million in Cyberswap and Indexed Finance. In October 2021, the accused probably used the vulnerability in the rebalantation mechanism in the code of smart contracts of the Indexed Finance using hundreds of millions of dollars in borrowed assets. So he allegedly was able to compromise the system of adding new tokens to the pool and install “artificial […]”, – WRITE: Businessua.com.ua
The US Federal Court accused the Canadian Anddan Medzedovich of fraud, breaking, attempted extortion and laundering of money in connection with theft of about $ 65 million in Cyberswap and Indexed Finance.
In October 2021, the accused probably used the vulnerability in the rebalantation mechanism in the code of smart contracts of the Indexed Finance using hundreds of millions of dollars in borrowed assets. So he allegedly was able to compromise the system of adding new token to the pool and set “artificial prices” for assets to steal about $ 16.5 million.
According to the investigators, in the case of Kyberswap in November 2023 Medzedovich similarly used the borrowing funds to manipulate prices in liquidity pools. He allegedly calculated combinations of agreements that provoked a failure in the protocol. Thanks to this hacker managed to steal $ 48.8 million users with 77 pools on six blockchains.
The Kyberswap team suggested that the Fill Return 90% of the money for a remuneration of 10%. In response, Hacker demanded full control over the project and its funds in exchange for 50% of production.
He later tried to wash the stolen money through cross-protocols and cryptomyxers.
According to the US Ministry of Justice, Medzedovich remains at large. He was wanted.
Recall that in January, the developers of the Ethereum client Geth corrected the vulnerability of the CV-2025-24883, which made it possible to stop the nodes with DOS attacks due to harmful P2P messages.
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