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Cybersecurity expert makes off with 9 million USD in crypto hack

US authorities arrested former Amazon employee keen on leaving country.

Cybercrime - July 21, 2023

On July 11, 2023, the US attorney for the Southern District of New York announced the arrest, on the same day, of Shakeeb Ahmed, a 34-year-old cybersecurity expert. He is charged with stealing 9 million USD (8 million EUR) worth of Bitcoin.

The former Amazon employee is said to have exploited a vulnerability in a crypto exchange platform in the summer of 2022. He is believed to have then offered to return the stolen funds, except for 1.5 million USD (1.34 million EUR), in exchange for not reporting the theft to authorities

He also allegedly laundered the stolen funds through a series of complex wires using blockchain, where he exchanged cryptocurrencies. However none of his actions were successful in covering his tracks or fooling authorities,” explained Prosecutor Damian Williams.

The investigation also established that the cybersecurity expert had searched his name online, as well as attorneys specialized in the area. He also apparently looked into ways of fleeing the country and hiding the stolen crypto from authorities.

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