A former security engineer was sentenced to three years in prison for stealing digital assets worth over $12 million from two decentralised exchanges.

In addition to ordering the ex-engineer to forfeit over $12.3 million, the U.S. Judge rendered what has been called the "first-ever" conviction for a smart contract attack.

Sentenced to Three Years of Supervised Release, Former Engineer

U.S. District Judge Victor Marrero has sentenced Shakeeb Ahmed, a former security engineer, to three years in jail for hacking two decentralised cryptocurrency exchanges.

Ahmed has also been forced to lose a sizable amount of cryptocurrencies as well as about $12.3 million.

A statement from the U.S. Attorney's Office states that Ahmed is required to reimburse Nirvana and the unidentified decentralised organisation for more than $5 million trade (dex).

Ahmed, 34, was also given a three-year supervised release term by the judge.

In December 2023, Bitcoin.com News revealed that Ahmed had acknowledged taking use of a flaw in one of the dex platform's smart contracts.

Ahmed tried to hide his tracks by exchanging the stolen digital assets for a privacy coin after tricking the platforms. However, in July 2023, American law enforcement finally captured Ahmed in spite of these and other actions.

Information released by the province states that Worldcoin would store user iris data in Brazil.

Authorities in Buenos Aires also stated that the business had not released a statement publicly saying that minors were not allowed to sign up for Worldcoin's system.

Authorities are concerned about the possibility that minors are involved in Worldcoin's operations.

An issue was also raised by the Spanish data agency when it ordered a temporary stop on Worldcoin operations in the country.