Accused Crypto Hacker Laundered Millions via Tornado Cash
Andean Medjedovic allegedly utilized the mixing protocol to hide assets stolen from two major DeFi platforms.
Updated on Sept. 30, 2026 in Financial Crime
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Andean Medjedovic, who allegedly stole $65 million from Indexed Finance and KyberSwap, has moved over $25 million of the illicit funds through the Tornado Cash mixing service. The suspect currently remains at large with an active Interpol red notice following his release from Serbian custody in 2024.
Why it matters
The case highlights the ongoing challenges of tracking stolen digital assets that utilize privacy-focused mixing protocols. Medjedovic has further complicated international law enforcement efforts by hiring lobbyists to pursue a presidential pardon.
Andean Medjedovic is subject to an active Interpol red notice after a Serbian court denied extradition and released him in November 2024. He faces allegations of stealing $65 million across two separate DeFi exploits.
The players
Andean Medjedovic
He is a Canadian citizen accused of orchestrating multimillion-dollar exploits against decentralized finance protocols.
Interpol
This international organization facilitates worldwide police cooperation and maintains the red notice against Medjedovic.
JM Burkman & Associates
This lobbying firm accepted $300,000 from Medjedovic to advocate for a presidential pardon.
Indexed Finance
This decentralized finance protocol was the target of an initial $16.5 million exploit in 2021.
KyberSwap
This decentralized exchange platform suffered a $48.8 million exploit allegedly perpetrated by Medjedovic.
The details
Medjedovic allegedly used flash loans to manipulate liquidity pools during the 2021 Indexed Finance and 2023 KyberSwap attacks. Investigators traced approximately $13.5 million of the stolen assets into the Tornado Cash protocol, contributing to a total of $25 million in laundered funds.
Timeline
October 14, 2021: Medjedovic allegedly performed the Indexed Finance exploit.
November 2023: KyberSwap was targeted in a $48.8 million exploit.
November 2024: A Serbian court ruled against extradition and released Medjedovic.
April 2026: Wallets linked to the suspect moved 2,900 ETH through Tornado Cash.
Legal Context
This case reflects broader international legal efforts to curb the use of obfuscation tools in digital theft investigations. It follows the pattern of increased scrutiny on mixing protocols established by the U.S. sanctions against the Tornado Cash smart contracts.
The use of lobbyists to seek pardons for international fugitives complicates standard extradition procedures and may set a precedent for high-profile cybercrime cases. Residents and businesses should remain aware that digital asset security relies on protocol stability rather than retroactive legal recovery.
The takeaway
This case demonstrates that sophisticated digital exploits are often followed by complex legal maneuvers to avoid international accountability. Investors should prioritize platforms that have undergone independent security audits to mitigate the risk of flash loan-based price manipulation.
Further reading
For more on the regulatory landscape regarding digital assets, visit the /crime/financial-crime/ section.
Source note: This article includes information reported by Startup Fortune.
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