A Rockville, Maryland, man was convicted by a jury for stealing $50 million from a <a href="https://axiomcore.info/israel-probes-millions-in-alleged-cryptocurrency-tax-evasion/” title=”Israel probes millions in alleged cryptocurrency tax evasion”>cryptocurrency exchange by exploiting vulnerabilities in its code.
Jonathan Spalletta, 36, was found guilty this week of computer fraud and money laundering after a six-day trial in New York.
Spalletta hacked Uranium Finance on two separate occasions in April 2021, prosecutors said. The first time, he used a bug to withdraw $1.4 million in cryptocurrency.
The second time, he exploited an error to pull $53.3 million from Uranium’s liquidity pools. The exchange had to shut down due to lack of funds.
Evidence presented at trial included a message Spalletta sent to another individual, stating that he “did a crypto heist” and “Crypto is all fake internet money anyway.”
Court documents said Spalletta used some of the money to buy collectable items including Pokémon and Magic the Gathering cards and sets valued in the hundreds of thousands of dollars, and in February 2025, law enforcement seized roughly $31 million in cryptocurrency taken from Uranium.
The maximum sentence for one count of computer fraud is 10 years in prison. The money laundering conviction could bring a maximum sentence of 20 years.
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