Uranium Finance Trial Opens Over Alleged $53.3 Million Theft
Federal prosecutors accuse Maryland cybersecurity consultant Jonathan Spalletta of exploiting a smart-contract vulnerability across 26 liquidity pools in 2021.
A federal trial in Manhattan has opened over allegations that cybersecurity consultant Jonathan Spalletta exploited Uranium Finance’s smart contracts to steal approximately $53.3 million in cryptocurrency in 2021.
Federal prosecutors accuse Spalletta of exploiting a smart-contract vulnerability across 26 liquidity pools in 2021. The attack allegedly drained the decentralized finance protocol of funds and caused Uranium Finance to shut down.
Prosecutors also allege that Spalletta moved the stolen cryptocurrency through Tornado Cash before using some of the proceeds to buy rare Pokémon and Magic: The Gathering cards, antique Roman coins and a piece of fabric from the Wright brothers’ original airplane that astronaut Neil Armstrong later took to the moon.
He faces federal criminal charges. The allegations have not been proven in court, and Spalletta is presumed innocent unless convicted.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.