$65M Crypto Heist – The Andean Medjedovic Case
Arunkumar K.
CTO @ Sennovate | Pioneering AI Cybersecurity Solutions | Former CISO in Web3 & Crypto | Experienced with Bolstering defences for State & National Governments
Welcome to Chain Train your go-to podcast for the latest in crypto! In today’s episode we dive into a shocking $65M crypto theft legal troubles for the FDIC over Coinbase documents a major crypto seminar in India and Franklin Templeton’s latest move in the ETF space. Buckle up as we unpack these stories and what they mean for the future of digital assets!
A 22-year-old Canadian Andean Medjedovic has been accused by U.S. authorities of stealing $65M from KyberSwap and Indexed Finance by exploiting protocol vulnerabilities. The DOJ alleges he manipulated trades to withdraw investor funds at artificial prices. Previously involved in a 2021 Ontario civil trial Medjedovic disappeared after making one appearance leading to an arrest warrant. Court documents suggest he feared threats after being doxxed. The indictment claims he later attempted to extort KyberSwap and launder money unknowingly working with a federal agent. Facing multiple charges he could receive up to 90 years in prison.
A D.C. federal judge criticized the FDIC’s handling of a FOIA request for cryptocurrency-related documents calling its interpretation "almost laughable." The case involves History Associates retained by Coinbase seeking FDIC records on its directive for banks to halt crypto activities. Whistleblowers alleged document destruction and the FDIC admitted it never placed a legal hold. Judge Ana Reyes warned of sanctions if the agency can't prove document preservation. The FDIC sought delays but the judge expedited proceedings ordering a deposition on record handling. Acting Chairman Travis Hill acknowledged prior actions deterred banks from engaging in crypto.
领英推荐
Bitcoin Bharat a leading Indian crypto platform is set to host an exclusive seminar on Bitcoin and cryptocurrency aiming to educate and empower individuals in the evolving financial landscape. The event will cover Bitcoin fundamentals blockchain technology investment strategies and India's regulatory environment. While dates and location are yet to be announced attendees can expect insights from industry experts and interactive sessions. With over 70000 Instagram followers Bitcoin Bharat has built a strong reputation for crypto updates. More details on the seminar’s agenda speakers and registration will be released soon.
Franklin Templeton Investments is seeking SEC approval to launch a new crypto index ETF as firms look to capitalize on growing interest in digital assets following Donald Trump's presidential election victory. Trump pledged to make the U.S. the "crypto capital of the planet" and build a national Bitcoin reserve. The SEC approved Bitcoin and Ether ETFs last year opening the door for institutional investors. While Franklin Templeton’s ETF may initially only include Bitcoin and Ether the firm could expand to other cryptocurrencies if they gain SEC approval. Other firms are also pursuing ETFs for coins like Solana and XRP.
That’s a wrap for today’s episode of Chain Train! From multi-million dollar heists to legal showdowns and new investment opportunities the crypto space is never dull. Stay tuned for more updates and don’t forget to follow us for the latest insights into blockchain Bitcoin and beyond. See you next time!