Uranium Finance Hacker Convicted Over $55 Million Theft

A New York jury has convicted cybersecurity consultant Jonathan Spalletta of computer fraud and money laundering over two Uranium Finance attacks that drained nearly $55 million, according to CryptoNews. Spalletta was found guilty on both counts following a six-day federal jury trial in Manhattan before U.S. District Judge Jed Rakoff.

Prosecutors traced the thefts to two April 2021 incidents that ultimately forced the DeFi platform to shut down. The U.S. Attorney’s Office for the Southern District of New York stated that the computer fraud count carries a maximum prison term of 10 years, while the money laundering count carries a maximum of 20 years. Sentencing has been scheduled for Feb. 16.

Exploits and Laundering Methods

According to prosecutors, the first attack occurred on April 8, 2021, targeting a smart contract that paid cryptocurrency rewards. By repeating a series of transactions, Spalletta drained nearly all reward tokens from the affected pool, valued at approximately $1.4 million. Prosecutors noted that Spalletta later pressured Uranium into accepting a payment of about $386,000 while returning the remaining funds, describing the arrangement as a sham bug bounty.

The second attack on April 28 exploited an error in the contract governing liquidity pool withdrawals, resulting in approximately $53.3 million in stolen cryptocurrency across 26 affected pools. Following the exploits, Spalletta moved assets through Tornado Cash and purchased luxury items, including a Black Lotus Magic: The Gathering card, rare Pokémon booster packs, an ancient Roman coin, and fabric from the Wright brothers' original airplane.

Seizures and Victim Assistance

Under court-authorized search warrants, federal investigators seized items from Spalletta's Maryland residence, including rare cards and artifacts valued at more than $3 million. Additionally, authorities seized approximately $31 million in cryptocurrency tied to the thefts on Feb. 24, 2025. The U.S. Attorney’s Office directed affected users to contact Homeland Security Investigations.

Key facts

• Jonathan Spalletta was convicted of computer fraud and money laundering by a New York jury.
• The two April 2021 attacks drained nearly $55 million from Uranium Finance and forced its closure.
• Authorities seized about $31 million in cryptocurrency and millions in rare collectibles.
• Sentencing is scheduled for Feb. 16, with the money laundering count carrying up to 20 years in prison.