The Southern District of New York's prosecutor's office announced on Thursday that Shakeeb Ahmed, a 34-year-old senior security engineer, admitted to attacking the Nirvana Finance protocol and another unnamed decentralized cryptocurrency exchange. Shakeeb Ahmed agreed to surrender the $12.3 million he gained from the two hacks and will compensate the victims a total of $5 million.

Ahmed was charged with telecommunications fraud and money laundering in July. According to the indictment, he exploited a vulnerability in the smart contract of an unnamed Solana exchange that matched the description of Crema Finance. Ahmed faces a maximum of five years in prison. He is scheduled to be sentenced on March 13, 2024.