On March 30, 2026, prosecutors in the U.S. Attorney’s Office for the Southern District of New York charged Jonathan Spalletta, 36, of Maryland, with computer fraud and money laundering in connection with two hacks of the decentralized crypto exchange Uranium Finance beginning in 2021, per The Block. Spalletta faces a maximum of 10 years for computer fraud and 20 years for money laundering, for a potential total of 30 years in prison, per
According to the indictment, Spalletta first exploited Uranium Finance’s smart contracts in April 2021 through a series of deceptive transactions that allowed him to withdraw far more rewards than entitled, draining the liquidity pool and stealing approximately $1.4 million, per. A few weeks later, he allegedly exploited another vulnerability in the smart contract, extracting $53.3 million and effectively shutting down the exchange due to insufficient funds, per. U.S. Attorney Jay Clayton stated, “As alleged, Jonathan Spalletta repeatedly hacked smart contracts to steal millions of dollars worth of other people’s money for himself, and destroyed a cryptocurrency exchange in the process,” adding that Spalletta reportedly remarked, “Crypto is just fake internet money anyway,” per.
Prosecutors allege Spalletta laundered the proceeds and used them to purchase luxury and collectible items, including millions of dollars in rare Pokémon and Magic: The Gathering trading cards, as well as a “piece of fabric from the original Wright brothers’ airplane that was subsequently transported to the surface of the moon by astronaut Neil Armstrong on the first moon landing,” among other assets, per. In February 2025, authorities seized approximately $31 million worth of cryptocurrency linked to the April 2021 hack, per.
The case highlights ongoing vulnerabilities in decentralized finance (DeFi) smart contracts and the determination of law enforcement to pursue crypto-related fraud. Spalletta’s alleged actions not only resulted in massive financial losses but also contributed to the collapse of Uranium Finance. The charges underscore that stealing from crypto platforms is treated as serious financial crime, regardless of the “crypto is different” mindset.
Investors should remain cautious with DeFi platforms, conduct thorough due diligence on smart contract security, and report suspicious activity to authorities. Regulatory scrutiny on DeFi continues to intensify, with cases like this serving as a reminder of the risks involved.
