When Indexed went live in 2020, Medjedovic, who goes by Andy, had just started working on his master's degree.

On checking the chat, Laurence found out that the coder had deleted his messages and changed his username!Īfter taking numerous steps like pulling up the participant's registration, getting his profile on the coding platform GitHub which was created by someone whose email address began with “amedjedo”, to finding that there was a Wikipedia contributor with a username similar to the one on GitHub, the quest finally lead to finding that it was 18-year-old Andean Medjedovic, a notable mathematician who did it all. Weeks earlier, a coder going by the username “UmbralUpsilon”had reached out to Day and Kellar on Discord, offering to create a bot that would make their platform more efficient. How The Hacker Was IdentifiedĪfter realizing that he hadn't heard back from one particular collaborator, Indexed Finance’s contributor Laurence Day searched his chat. Altogether, the hacker had run off with $16 million worth of assets, as per a Bloomberg report.

It appeared that the platform had been fooled into severely undervaluing tokens that belonged to its users and selling them to the attacker at an extreme discount.

Indexed Finance was built on the Ethereum blockchain, a public ledger where transaction details are stored, which meant there was a record of the attack. It was on October 14th 2021 in England, when crypto platform Indexed Finance was hacked by a then 18-year-old math prodigy.

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