According to the Vietnam Blockchain Association (VBA), on February 3, 2025, the indictment was announced in the Federal Court in Brooklyn (USA), charging Andean Medjedovic (22 years old, Canadian nationality), with fraud through computer attacks, attempted extortion after stealing about 65 million USD in crypto assets from two decentralized finance (DeFi) protocols, KyberSwap (more than 47 million USD) and Indexed Finance (more than 16 million USD).
KyberSwap Elastic is one of Vietnam's decentralized financial platforms based on blockchain technology, developed by Kyber Network - a blockchain startup owned by Vietnamese technology (founded by Luu Loi and Tran Huy Vu in 2017).
The Kyber Elastic attack took place in November 2024, hackers stole $47 million worth of crypto assets.
Immediately after the incident, Kyber Network made efforts to fix the problem.
"The identification of the attacker as Canadian Andean Medjedovic has once again confirmed that Kyber is not involved in the Kyber Elastic attack and the previous unfounded self-hacking rumors.
False rumors have negatively affected the Kyber community and reputation, as well as the Vietnamese blockchain community.
We would like to thank the extremely hard-working investigation and tracing coordination of domestic and foreign organizations, from technology, legal units, and law enforcement agencies. In particular, the Vietnam Blockchain Association, as the only professional social organization in Vietnam, has coordinated the investigation as well as provided accurate information to the community," emphasized Tran Huy Vu, CEO and Co-founder of Kyber Network.
