US prosecutors charged a New York man with stealing millions of dollars in crypto after exploiting vulnerabilities on a decentralized finance or “DeFi” platform — the latest sign of increased willingness by authorities to wade into this corner of the digital-asset market to thwart alleged wrongdoing.
Shakeeb Ahmed, a 34-year-old senior security engineer for an international technology company, took advantage of a flaw in one of the exchange’s smart contracts to insert fake pricing data, generating about $9 million of inflated and unearned fees that he was able to withdraw in crypto, the US Attorney’s Office for the
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