Nirvana Finance hacker pleads guilty, will forfeit illegal gains of 12.3 million dollars and compensate victims 5 million dollars

ChainCatcher news, according to The Block, the U.S. Attorney's Office for the Southern District of New York announced on Thursday that 34-year-old senior security engineer Shakeeb Ahmed admitted to attacking the Nirvana Finance protocol and another unnamed decentralized crypto exchange.

Ahmed agreed to forfeit $12.3 million obtained from the two hacking incidents and will also pay $5 million in restitution to the victims. Ahmed faces a maximum of five years in prison and is scheduled to be sentenced on March 13, 2024.

It is reported that the algorithmic stablecoin protocol Nirvana Finance suffered a flash loan attack last year, resulting in a loss of approximately 3.54 million USDC.