Kyberswap Exploiter Moves 2,900 ETH to Tornado Cash Two Years After $65M Heist

Key Takeaways:

• Andean Medjedovic moved 2,900 ETH worthy $6.8 cardinal to Tornado Cash connected April 29, 2026.
• The DOJ charged Medjedovic successful February 2025 for the $48.8M Kyberswap and $16.5M Indexed Finance hacks.
• Medjedovic remains a fugitive contempt FBI, IRS, and Homeland Security engagement successful the investigation.

A Fugitive Still Moving Funds

The determination to Tornado Cash, a cryptocurrency mixer designed to obscure transaction trails, suggests that Medjedovic mightiness beryllium actively attempting to launder exploit proceeds that national prosecutors person described arsenic among the “most technically sophisticated” successful Defi history.

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Medjedovic was charged by the U.S. Department of Justice successful February 2025 with ligament fraud, unauthorized harm to a protected computer, attempted Hobbs Act extortion, wealth laundering conspiracy, and wealth laundering. As Bitcoin.com reported astatine the time, helium has remained astatine ample contempt the engagement of the FBI, the Internal Revenue Service, Homeland Security Investigations, and planetary practice from Dutch instrumentality enforcement authorities.

How the Exploits Worked

Medjedovic targeted some Indexed Finance and Kyberswap utilizing a saltation of the aforesaid method successful which helium borrowed ample volumes of integer tokens done flash loans and executed a series of trades engineered to origin the protocols’ automated marketplace maker ( AMM) smart contracts to miscalculate cardinal interior terms variables.

Operating connected codification logic alternatively than quality oversight, the contracts past allowed Medjedovic to retreat funds astatine artificial prices that made his exits acold much profitable than the existent marketplace rate.

The Indexed Finance onslaught successful 2021 netted astir $16.5 million, portion the Kyberswap exploit connected November 23, 2023, was substantially larger, with Medjedovic draining astir $48.8 cardinal from the protocol. He past moved 800 ETH successful the months pursuing that attack, establishing a signifier of gradual money dispersal.

Kyber Network exploiter’s remaining $29.8M crypto portfolio

Wednesday’s transportation of 2,900 ETH to Tornado Cash represents the largest azygous confirmed laundering determination since then. The afloat scope of what Medjedovic has converted oregon moved since the exploits remains unclear from onchain information alone.

Beyond the hacks, national prosecutors person besides charged Medjedovic with attempted extortion because, aft the Kyberswap exploit, helium allegedly demanded compensation from the protocol successful speech for returning a information of stolen assets.

Lastly, Tornado Cash was sanctioned by the U.S. Treasury successful 2022, meaning its usage by idiosyncratic already facing national wealth laundering charges compounds Medjedovic’s ineligible exposure, assuming helium is ever arrested. His whereabouts stay unknown, with nary apprehension having been made to date.