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Manhattan jury convicts Uranium Finance hacker tied to $50M theft

Prosecutors said the defendant took about $1.4 million in the first 2021 hack and about $53.3 million in a second exploit that led Uranium to shut down.

Reported · Written up by our desk · Market Structure

A Manhattan jury has convicted Jonathan Spalletta of computer fraud and money laundering tied to two 2021 hacks of decentralized crypto exchange Uranium Finance, federal prosecutors said Wednesday.

According to prosecutors, in the first hack on April 8, 2021, Spalletta repeatedly used Uranium’s smart contract to withdraw rewards he was not entitled to, taking about $1.4 million, and then pressured the platform to let him keep about $386,000 as a so-called sham bug bounty.

Prosecutors said Spalletta later exploited an error in how Uranium’s contract calculated withdrawals across several liquidity pools on April 28, 2021, taking about $53.3 million, after which Uranium shut down.

Spalletta, 36, faces up to 10 years in prison for computer fraud and up to 20 years for money laundering, after a six-day trial before U.S. District Judge Jed S. Rakoff.

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