Cybersecurity Engineer Sentenced to 3 Years for $12M Crypto Hacks

Shakeeb Ahmed, a cybersecurity engineer, has been sentenced to three years in prison for stealing approximately $12 million in cryptocurrency through hacks on two exchanges. He pleaded guilty to hacking into Crema Finance and Nirvana Finance, stealing $9 million and $3.6 million, respectively, causing Nirvana Finance to shut down. Despite attempting to return the stolen funds to Crema Finance in exchange for a $1.5 million fee and a promise not to report the attack, Ahmed was apprehended. In addition to his prison sentence, he has been ordered to forfeit $12.4 million in cryptocurrency and pay over $5 million in restitution to the affected exchanges.