US Department of Justice Charges Ahmed in Relation to the Attack
When the US Department of Justice brought charges against Ahmed, who was believed to be involved in the attack, it was discovered that the references matched those of the Crema Finance attack in July 2022. Blockworks reported this connection in their initial coverage of the case.
As part of a recent plea agreement, Ahmed forfeited $12.3 million. This significant sum indicates the magnitude of the crime committed.
US attorney Damian Williams expressed his satisfaction with the outcome, stating, “Five months ago, my office announced the first ever arrest involving an attack on a smart contract. Today, senior security engineer Shakeeb Ahmed pled guilty and agreed to return all of the stolen crypto to his victims.”
The Scope of Ahmed’s Actions
The charges against Ahmed were originally linked to the hacking of a crypto exchange. However, it was revealed that he conducted internet searches for terms such as “defi hacks prosecution,” “wire fraud,” and “evidence laundering” shortly after the Nirvana hack. These searches demonstrate his involvement in a broader range of fraudulent activities.
Ahmed was able to generate profits of around $9 million and subsequently withdrew these ill-gotten gains. In an attempt to avoid legal consequences, he engaged in communication with the crypto exchange, offering to return the stolen funds, excluding $1.5 million, if the exchange refrained from involving law enforcement.
Restitution and Sentencing
Ahmed has been ordered to pay $5 million in restitution to his victims as part of the legal proceedings. The potential consequences of his actions will be determined during his sentencing, scheduled for March 2024.