US authorities have charged Maryland resident Jonathan Spalletta over alleged involvement in two hacks targeting Uranium Finance that resulted in losses exceeding $54 million.
Prosecutors claim Spalletta exploited smart contract vulnerabilities in April 2021, draining funds that ultimately forced the decentralised exchange to shut down.
“Stealing from a crypto exchange is stealing—the claim that ‘crypto is different’ does not change that,”
Said US Attorney Jay Clayton, adding that the alleged actions caused “real losses of tens of millions of dollars.”
The first exploit reportedly resulted in a $1.4 million loss shortly after the platform’s launch, with most funds later returned following a private agreement.
A second, larger attack later that month saw approximately $53.3 million in assets including Bitcoin, Ether and Uranium’s native token stolen across multiple liquidity pools.
Authorities allege the stolen funds were used to purchase collectibles such as Pokémon cards, Roman coins and historical artefacts, which were later seized during a search.
Spalletta faces charges of computer fraud and money laundering, carrying a combined potential sentence of up to 30 years, as regulators continue to pursue accountability in crypto-related crimes.
At the time of reporting, Bitcoin price was $67,673.15.