Hacker sentenced to 3 years in prison for stealing over $12M from crypto exchanges

A security engineer who stole over $12 million from two different decentralized cryptocurrency exchanges (DEXs) has been sentenced to three years in prison and three years of supervised release by a federal judge on Friday.

Shakeeb Ahmed was arrested last year on wire fraud and money laundering charges. Federal officials alleged that Ahned stole $9 million from a DEX built on Solana – which appears to be Crema Finance.

Ahmed pleaded guilty to one count of computer fraud in December.

He will also forfeit $12.3 million and pay $5 million in restitution as part of his sentence.

Prosecutors asked for a four-year sentence out of a maximum was five years but Ahmed had accepted responsibility by pleading guilty and surrendering the proceeds of the hacks and therefore warranted “a slightly below Guidelines variance,” according to a sentencing memo filed last week.

Ahmed’s defense team argued for no prison time, saying that in addition to his acceptance of responsibility, he had voluntarily disclosed his hack of Nirvana Finance to prosecutors.

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