⚖️ Freedom After a $65M Exploit? Serbia Refuses to Extradite Indexed Finance Hacker
The high-profile case of Andean Medjedovic, a 22-year-old Canadian coder accused of draining $65 million from KyberSwap and Indexed Finance, has taken an unexpected turn. After 105 days in a Serbian jail, the suspect has been released.
The Background
Medjedovic was arrested in Belgrade in August 2024 following an Interpol red notice. Dutch authorities sought his extradition, claiming he orchestrated the attacks from a hotel in The Hague while using a fake Slovakian passport under the alias "Luka Krajovic."
Why was he released?
The High Court in Belgrade delivered a ruling that has sparked intense debate in the crypto legal space:
Lack of Direct Evidence: The court ruled that linking a hotel IP address to the exploit was insufficient proof of Medjedovic's personal involvement.Legal Technicalities: According to the ruling, the nature of the alleged crime does not meet the specific criteria for mandatory extradition and detention under Serbian law.The "Privacy" Defense: Medjedovic denied all charges, claiming his use of multiple fake IDs was purely to "maintain privacy" while trading crypto and to avoid being targeted by scammers.
Damning Evidence?
During the search, authorities found detailed notes on hacking schemes, step-by-step guides on laundering crypto through mixers, and plans to acquire even more fake identities (including Russian, Brazilian, and U.S. passports). Despite these findings, the Serbian court maintained its decision.
What does this mean for the industry?
This case highlights the immense difficulty of cross-border DeFi investigations. Even when a suspect is identified and detained, jurisdictional differences can prevent prosecution.
For the crypto community, it’s a stark reminder: DeFi security relies on code and protocol audits. Recovering funds through the legal system remains a massive challenge, even when a suspect is caught.
Is this a win for legal due process or a dangerous loophole for cybercriminals? Share your thoughts below! 👇