Ahmed exploited a vulnerability in a decentralized cryptocurrency exchange’s smart contract by injecting fabricated pricing data, which triggered the generation of inflated fees totaling $9 million, which he subsequently withdrew in cryptocurrency.  Following the theft, Ahmed attempted to extort the exchange, proposing the return of a portion of the stolen funds ($7.5 million) on the condition that they refrain from involving law enforcement.  He exploited a vulnerability in Nirvana Finance’s smart contracts to buy cryptocurrency at a significantly discounted price and then resold it back to Nirvana at market value, draining $3.6 million—almost all their funds.  To hide the stolen funds, he employed various laundering techniques by converting the stolen crypto into different tokens (token-swap transactions) and then “bridged” these funds from the Solana blockchain to the Ethereum blockchain, essentially moving them across different networks.  At last, he converted everything to Monero, a privacy-focused cryptocurrency, and used anonymous exchanges and mixers to further obfuscate the trail. Document Stop Advanced Phishing Attack With AI AI-Powered Protection for Business Email Security Trustifi’s Advanced threat protection prevents the widest spectrum of sophisticated attacks before they reach a user’s mailbox.

Source: GBHackers