Indexed Finance hacker claims he flipped to whitehat work

Andean Medjedovic, a University of Waterloo mathematics graduate living as a fugitive for over a year after being charged for stealing crypto tokens, says he took a turn for the better despite evading the court. 

Andean Medjedovic was charged with stealing $15 million in cryptocurrency tokens in a civil lawsuit. He was subject to an arrest warrant for over a year. However, authorities failed to locate him.

Fugitive Medjedovic eludes arrest for a year despite arrest order

Medjedovic said he would soon set up a nice base since moving around was tiresome. 

On Dec. 21, 2021, a court hearing was scheduled, in which the judge issued an arrest warrant after Medjedovic failed to attend court.

At a court hearing in January, superior court judge Fred Myers stated that Medjedovic used his mathematical prowess to create and deploy a complicated computer attack against Indexed Finance. Medjedovic enticed the platform to transfer him $15 million in crypto that was not his.

During a rambling Telegram conversation with DL News, he made an unexpected declaration claiming to now work for the good guys. He believes that moving from fraudulent hacking with harmful intent to whitehat work is a more sustainable mode of living.

He claims that he can found on Immunefi’s leaderboards, a platform where people identify code flaws to prevent hacker attacks.

Medjedovic is accused of abusing Indexed software using the username UmbralUpsilon. In his interactions with victims, he used the “code is law” defense, a term used frequently in DeFi that states that all trades made within the bounds of a smart contract’s code are legal.

According to Bloomberg, he earned a master’s degree from Waterloo University in just one year, a record not even fellow alumnus Vitalik Buterin accomplished.

Indexed founders used the UmbralUpsilon username to track Medjedovic

By connecting the UmbralUpsilon username, the wallet of the exploiter, and Medjedovic’s email, Indexed founders Laurence Day and Dillon Kellar could identify Medjedovic. They begged him to give them their money back. 

Medjedovic made fun of them on Twitter by saying they were out-traded and that there was nothing they could do to change that since that’s how crypto works.