Search Engine Query: Fraudster Searches for Information on Crossing Borders with Cryptocurrency
A 34-year-old man, Shakeeb Ahmed, who allegedly stole millions of dollars from a decentralized crypto exchange in 2022, considered buying another citizenship and fleeing the U.S. with the stolen funds. Ahmed, who worked as a senior security engineer at a tech company at the time of the heist, reportedly used his technical knowledge to manipulate the exchange’s liquidity pools. He tricked the protocol into paying him $9 million for crypto that he did not deposit, using computer code. Following the incident, Ahmed returned all but $1.5 million of the illicit funds and shared details of the vulnerabilities in the exchange’s code to prevent future attacks, though he requested that the hack not be reported to law enforcement.
The targeted exchange, Crema Finance, was hacked in July 2022. Ahmed’s search history revealed his activities after the exploit. In August, he searched for terms such as “wire fraud” and “how to prove malicious intent.” Later, he searched for “evidence laundering” and sought information on the legality of crossing the border with cryptocurrency and preventing the government from seizing assets. In October, Ahmed searched for “buying citizenship” and came across an article titled “16 Countries Where Your Investments Can Buy Citizenship.”
Ahmed was arrested in New York City on Tuesday and has been charged with wire fraud and money laundering. Each charge carries a maximum sentence of 20 years in prison.
This case highlights the importance of cybersecurity and the potential vulnerabilities in the crypto industry. It serves as a reminder that even individuals with technical expertise can exploit weaknesses in systems and fraudulently obtain large sums of money. The incident also raises concerns about the safety of decentralized exchanges and the need for better security measures to protect users’ funds.
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