A 22-year-old math prodigy from Canada is in hot water after being accused of swindling $65 million from two decentralized finance (DeFi) platforms. Andean Medjedovic allegedly exploited weaknesses in the systems of KyberSwap and Indexed Finance, two platforms that let users swap cryptocurrencies through automated “liquidity pools.”

Authorities claim Medjedovic used his “formidable mathematical prowess” to pull off the sophisticated scheme. By manipulating trading practices, he reportedly caused artificial price fluctuations in KyberSwap’s liquidity pools. This allowed him to steal nearly $48.8 million from 77 different pools across six blockchains.

But the story doesn’t end there. Prosecutors say Medjedovic tried to extort the KyberSwap developers and investors by offering to return half of the stolen funds—but only if they handed over control of the platform. When that didn’t work, he allegedly turned to laundering the money. Using “bridge” protocols and a cryptocurrency mixer, he tried to hide the trail of his digital loot. However, one bridge froze some of his transactions, leading him to pay over $80,000 to someone he believed could unlock the funds. That move, ironically, helped authorities track him down.

If convicted, Medjedovic could face decades behind bars. His case highlights both the risks and vulnerabilities in the rapidly growing world of decentralized finance. Stay tuned as this story unfolds.