A federal court in Manhattan has begun hearing the case tied to the roughly $53 million exploit of DeFi protocol Uranium Finance, according to Techub News, which cited Law360. Prosecutors allege that Jonathan Spalletta, a cybersecurity consultant from Maryland, carried out the second attack on the protocol in 2021 by exploiting a smart contract flaw. The government says he extracted about $53.3 million from 26 liquidity pools.
The case also includes money-laundering allegations. The U.S. Department of Justice claims Spalletta later moved the funds through methods including Tornado Cash and used the proceeds to buy rare collectibles. Prosecutors further say the loss left Uranium Finance unable to continue operating, leading to the protocol’s shutdown because of insufficient funds. The trial is now underway in Manhattan federal court.
A federal court in Manhattan has started hearing the case over the roughly $53 million exploit of DeFi protocol Uranium Finance.
According to Techub News, citing Law360, prosecutors allege that Jonathan Spalletta, a cybersecurity consultant from Maryland, used a smart contract flaw in 2021 to carry out the protocol’s second attack. They say he took about $53.3 million from 26 liquidity pools, a loss that ultimately forced Uranium Finance to shut down because of insufficient funds.
The U.S. Department of Justice also alleges that Spalletta later laundered the funds through methods including Tornado Cash and used the money to purchase rare collectibles.
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