According to the indictment, Medjedovic, which has a mastery in mathematics of the University of Waterloo, exploited vulnerabilities in the protocols DEFI, Kyberswap and the finances indexed, to steal millions of people in crypto other investors in their liquidity pools.
The Doj allegedly allegedly allegedly, MedjoDovic, “used hundreds of millions of dollars in cryptocurrency borrowed to create artificial prices in Kyberswap liquidity pools” and “precise combinations calculated by trades that would make the Kyberswap (protocol) “ Glintch, Glintch, ‘”In his words, allowing him to steal tens of millions of dollars in cryptocurrency of liquidity pools.”
He also alleged that, earlier, he used a similar tactic to exploit the Defid Finance Defised protocol, using the crypto borrowed to cause intelligent protocol contracts to fix artificial prices, then steal the crypto to his pools liquidity.
The MJ allegedly alleged that Medjedovic had stolen about $ 48.8 million in crypto in Kyberswap Liquidity Pools and took about $ 16.5 million in the indexed financial protocol.
He also alleged that Medjedovic had tried to whiten the product through cryptocurrency mixers and that he tried to extort the developers of Kyberswap, seeking control of the protocol in exchange for about half of the stolen crypto .
The allegations against Medjedovic were also at the center of certain first disputes in Canada involving the cryptography sector.
In 2021, an Ontario court issued an arrest warrant against MedoDovic, in response to a pair of current actions against him, including a project for collective appeal brought by the presumed indexed financial hacking.
In his decision, the Superior Court of Justice refused to rule that Medjedovic was out of the court for having escaped the procedure against him, but declared that he had to face a court hearing in the court.
“It is a young man who, I fear, is taken between the law and a set of rules he affirms works independently. The only way he can show that he is or should be considered correct is to participate and assert the case he says, “said the court.
Lawful by definition
The court noted that there is a theory in certain crypto circles which, because the blockchain technology is based on the computer code accessible to the public – and under the affirmation according to which “the code is the law ” – Any trading that can be carried out in the code parameters is legal by definition.
“The theory postulates that voluntary participants accept and are linked by the results of the use of technology. This means that if an intelligent person can find a way to exploit an escape or weakness of the code to encourage the holder to conclude an unexpected and unfavorable transaction, more power for him, “said the court.
In this case, “Medjedovic used its formidable mathematical prowess to design and release a complex computer attack against the financing of the index and essentially encouraged it to send him $ 15 million in the cryptocurrency tokens of others “The Ontario court noted. “The applicant says he” hacked “the system to deceive it and defrauds participants with their assets. The defendant may say that he has only done what the code has enabled and the code is the law. »»
“If Ontario’s Common Law supports this legal theory may well be in question in this action-if MedoDovic Andean participates,” he said.
None of the allegations against MedoDovic has been proven, and he is presumed innocent on criminal accusations against him in the United States
According to the Doj, MedoDovic is not in detention.
