# Ex-Amazon engineer pleads guilty to hacking crypto exchanges **December 15, 2023** --- Former Amazon security engineer Shakeeb Ahmed pleaded guilty this week to **hacking and stealing over $12.3 million from two cryptocurrency exchanges ** in July 2022. The two affected companies are **Nirvana Finance, a decentralized crypto exchange, and an unnamed exchange on the Solana blockchain platform** that Ahmed hacked using his blockchain audit and smart contract reverse engineering skills. He first targeted the undisclosed crypto exchange by **manipulating a smart contract to introduce false pricing data**, generating roughly $9 million worth of inflated fees. Ahmed later withdrew the funds and offered to return all but $1.5 million on the condition that the exchange refrained from involving law enforcement. Although not explicitly named by the Justice Department, the details of the attack match those of a July 2022 breach ** impacting the Crema Finance decentralized finance (DeFi) platform.** Shortly after this first hack, Ahmed ** exploited a Nirvana Finance DeFi protocol smart contract loophole to take a flash loan of ANA cryptocurrency tokens ** at a low price and sell it back at a higher rate, yielding him approximately $3.6 million. Despite being offered a $300,000 bounty to return the stolen crypto assets, Ahmed kept everything he stole (representing all the funds owned by Nirvana Finance) after demanding $1.4 million and ** not reaching an agreement, forcing the exchange to shut down.** * Efforts to evade capture Seeking to conceal his actions and obscure the digital trail of the stolen funds, Ahmed ** used several cryptocurrency mixers (including Samourai Whirlpool), the Solana and Ethereum blockchains, and foreign exchanges to convert the millions he stole into Monero**, a cryptocurrency known for its enhanced privacy and anonymity. Wary of being apprehended, Ahmed actively sought ways to elude detection and extradition. His online searches revealed **his interest in strategies to flee the United States, thwart asset seizures, and secure citizenship** in different nations, clearly showcasing Ahmed's intention to sidestep legal repercussions for his actions. "Five months ago, my Office announced the first ever arrest involving an attack on a smart contract. Today, senior security engineer Shakeeb Ahmed **pled guilty and agreed to return all of the stolen crypto to his victims.** That arrest is now the first ever conviction for such a hack," said U.S. Attorney Damian Williams on Thursday. "Ahmed's plea has also resulted in him further admitting that **he carried out a previously unsolved second multi-million-dollar hack**, this time of decentralized finance protocol Nirvana Finance. In total, Ahmed used his technical knowhow to steal over $12 million and tried to cover his tracks by swapping stolen crypto for Monero, **using cryptocurrency mixers, hopping across blockchains, and utilizing overseas crypto exchanges."** Ahmed entered a guilty plea for ** a single computer fraud charge, an offense with a maximum imprisonment term of five years.** Additionally, he committed to compensating his victims with a sum totaling $5,071,074.23. He will also forfeit over $12.3 million, including **roughly $5.6 million worth of fraudulently obtained cryptocurrency.**