Alleged ₱3.99 billion ($65 million) Hacker Resumes Laundering Through Tornado Cash
A wallet tied to alleged hacker Andean Medjedovic sent ₱828.69 million ($13.5 million) in Ether to Tornado Cash on Wednesday, breaking a year of silence. The Canadian national faces US charges for stealing ₱3.99 billion ($65 million) across two DeFi protocol hacks and is now pursuing a presidential pardon strategy.
Key Takeaway
Accused hacker resumes laundering while seeking presidential pardon using same playbook that got other crypto defendants off.
Pseudonymous blockchain investigator Specter tracked the movement and said it's concerning to see a threat actor act with such confidence after exploiting multiple victims.
Medjedovic, a former math prodigy who graduated high school at 14, allegedly stole ₱982.15 million ($16 million) from Indexed Finance in October 2021 and $48 million from Kyberswap. The US Department of Justice charged him with wire fraud, computer hacking, and attempted extortion in February. He's laundered $25 million of the stolen funds so far.
Serbian authorities arrested Medjedovic in 2024 on a Netherlands warrant but Belgrade Higher Court released him in November due to insufficient evidence. He went on the run in December 2021 after an Ontario judge issued an arrest warrant for failure to appear in court. By early 2023, he told DL News he was living on an unnamed island.
Medjedovic maintains he's innocent, arguing his actions were legitimate trades under the "code is law" philosophy that governs smart contracts. His legal strategy now hinges on a presidential pardon. Legal filings showed he retained JM Burkman & Associates on February 20, paying $300,000 upfront for six months of services. The lobbying firm plans to argue the case should be dismissed citing regulatory precedent and weak US connection.
That approach mirrors recent wins for other crypto defendants. The SEC dismissed charges against BitClout founder Nader Al-Naji in March after charging him in July 2024 with fraud and misusing $7 million in investor funds for luxury expenses. Bitcoin investor Roger Ver entered a deferred prosecution agreement with the DOJ in October 2024, paying the IRS nearly $50 million in back taxes and penalties. At least seven SEC enforcement actions have been dismissed since Trump took office.
Medjedovic attended University of Waterloo, where Ethereum co-founder Vitalik Buterin also studied, completing his undergraduate degree in pure mathematics in three years and his master's in one year.
This article was written based on reporting from Dlnews.
