The post Crypto News: US Law Enforcement Recovers $31 Million from 2021 Uranium Finance Hack appeared first on Coinpedia Fintech News
US authorities have seized approximately $31 million in cryptocurrency linked to the 2021 hack of Uranium Finance, a decentralized finance (DeFi) platform. The seizure, announced on Monday by the Southern District of New York (SDNY), follows a joint operation with Homeland Security Investigations (HSI) in San Diego.
In April 2021, a hacker exploited a vulnerability in Uranium Finance’s automated market maker (AMM) on the Binance Smart Chain, stealing around $50 million in various tokens. The incident was one of the largest hacks in DeFi history.
Following the hack, the attacker tried to launder the stolen funds using methods such as crypto mixing services and small deposits on centralized exchanges. In an unexpected turn, blockchain researcher Zack XBT even suggested that the hacker may have used some of the stolen funds to purchase rare Magic: The Gathering trading cards.
The hack ultimately led to the shutdown of Uranium Finance, leaving victims without restitution. However, the recent seizure of the $31 million offers a potential recovery for those affected, nearly four years after the attack. While further details on the investigation have not been provided, this marks a major development in the case.