U.S. authorities have charged Jonathan Spalletta with computer fraud and money laundering for exploiting Uranium Finance, a decentralized crypto exchange.
Spalletta allegedly drained $53.3 million from the platform in April 2021 by exploiting flaws in its smart contracts, leading to its collapse. Prosecutors say he kept a portion of the funds under a sham bug bounty arrangement.
The indictment alleges he funneled approximately $26 million through crypto mixers like Tornado Cash between 2021 and 2023 to obscure the stolen funds' origin. On-chain investigators traced laundered funds used to purchase high-value collectibles, including rare Magic and Pokémon cards and a Wright brothers artifact.
Last February, law enforcement seized crypto worth about $31 million linked to the alleged scheme. Spalletta surrendered to authorities and faces up to 20 years on the money laundering charge.