Shakeeb Ahmed was a technical lead for Amazon when he hacked smart contracts on at least two DEXes.
Computer security engineer Shakeeb Ahmed was sentenced to three years in prison followed by three years of supervised release in Southern New York District (SDNY) Court. Ahmed was found guilty of flash loan attacks on the decentralized Crypto Exchange and Nirvana exchanges in 2022.
U.S. Attorney Damian Williams said in a statement that Ahmed’s conviction was the first for hacking a smart contract. Ahmed was also ordered to forfeit $12.3 million as well as “a significant quantity of cryptocurrency” and to pay the exchanges $5 million in restitution.
Ahmed had offered to return all the funds stolen from Crypto Exchange except for $1.5 million if the exchange did not contact law enforcement. Nirvana offered him $600,000 for the return of funds, but Ahmed demanded $1.4 million, out of the $3.6 million he hacked, and no agreement was reached.
