Quick take:
A US extradition request claims Gurevich demanded a $500,000 reward after stealing digital tokens from a crypto wallet.
The 2022 cryptocurrency hack nearly caused the collapse of the California-based blockchain company.
The arrest at Ben-Gurion Airport is the first time the identity of the main suspect in the hack has been revealed.
Israeli authorities have arrested Alexander Gurevich, a dual Russian-Israeli citizen from Bat-Yam wanted in the U.S. for alleged involvement in the $190M Nomad hack. According to reports, Gurevich was arrested at Ben-Gurion Airport last Thursday after he allegedly tried to flee to Russia using a passport with a new last name.
He is wanted in the U.S. for alleged involvement in the $190 million Nomad hack that nearly led to the collapse of the California-based company in 2022. The arrest at Ben-Gurion Airport is the first time the identity of the main suspect in the hack has been revealed.
A US extradition request claims Gurevich demanded a $500,000 reward after stealing digital tokens from a crypto wallet.
Israel’s State Attorney’s Office International Department is said to have on Friday submitted a petition to the Jerusalem District Court seeking to declare Gurevich extraditable to the US.
According to prosecutors, Gurevich identified a vulnerability in Nomad’s system and exploited it. He then proceeded to withdraw about $2.89 million in tokens. The flaw was shortly discovered by others, who also took advantage, leading to estimated total losses of $186 million.
DeFi protocols account for the majority of crypto exploits, accounting for about $3.1 billion of the $3.8 billion stolen in 2022. In 2023, that figure fell to $1.7 billion, although the number of hacking incidents increased, according to Chainalysis.
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