Hacker Has Pleaded Guilty to the $12 Million Solana DeFi Intrusions

Published on:

Last Updated on December 17, 2023 by Bitfinsider

According to investigators, Shakeeb Ahmed, a security engineer who compromised two Solana DeFi programs, has pled guilty.

On July 2, 2022, Ahmed launched the first of two assaults, targeting an undisclosed decentralized exchange to produce $9 million in inflated fees. In exchange for not reporting the attack to law authorities, Ahmed agreed to return all but $1.5 million of the stolen assets. However, in July 2023, SDNY investigators detained and charged Ahmed.

Later investigations revealed that around July 28, 2022, Ahmed carried out a second attack against Nirvana Finance, a Solana-based decentralized finance network. In that attack, Ahmed used flash loans to buy Nirvana’s ANA token at a low price, then resold it at a higher one to earn $3.6 million. Following a failed bounty negotiation with Nirvana, Ahmed refused to return the stolen monies, and Nirvana was forced to close due to a near total loss of funds.

Though the Nirvana Finance hack was reported as it happened, Ahmed’s role in the attack was unknown until now.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related