Spalletta surrendered to authorities on Monday following the charges, now facing a maximum of 10 years on the computer fraud count and 20 years on the money laundering charge.
“Stealing from a crypto exchange is stealing—the claim that ‘crypto is different’ does not change that.”U.S. Attorney Jay Clayton said in a statement.
The case fits into a wider effort to address DeFi exploits that combine technical loopholes with misuse of funds.
US Charges Hacker Behind $53 Million Uranium Finance Exploit
The Uranium Finance indictment carries potential prison time of up to 30 years for fraud and money laundering counts.
An alleged crypto hacker who once described digital assets as “fake internet money” is now in U.S. custody, accused of carrying out a $53 million exploit that helped bring down a decentralized exchange, in a case an expert says shows courts are taking a harder look at whether smart contract exploits can be treated as lawful.
U.S. authorities on Monday unsealed an indictment charging Jonathan Spalletta, also known as “Cthulhon” and “Jspalletta,” with computer fraud and money laundering in connection with two 2021 attacks on Uranium Finance, a decentralized exchange.
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U.S. Federal Prosecutors Investigate Potential Insider Trading in Prediction Market
Federal prosecutors in Manhattan are investigating whether certain high-yield bets in prediction markets violate insider trading and other laws. According to BlockBeats, CNN reported that multiple sources have indicated that the U.S. Attorney's Office for the Southern District of New York, specifically the head of the Securities and Commodities Fraud Task Force, has recently met with representatives from Polymarket to discuss the application of existing laws to potential misconduct in this rapidly evolving industry.
The U.S. Department of Justice is focusing on these notable high-yield bets, signaling an increase in regulatory scrutiny of the sector. Over the past year, the prediction market industry has expanded rapidly under relatively limited federal oversight.
The attack on Uranium Finance emptied key pools tied to BNB, BUSD and other assets and left Uranium unable to continue operating.
Prosecutors allege Spalletta first exploited Uranium’s rewards mechanism on April 8, 2021, draining roughly $1.4 million before later negotiating what authorities describe as a sham “bug bounty” that allowed him to keep about $386,000.
Maryland man charged in $50 million Uranium Finance hack after U.S. seized $31 million in crypto
Prosecutors say Jonathan Spalletta exploited smart contract bugs twice in April 2021, laundering funds through Tornado Cash and spending proceeds on rare collectibles.
A Maryland man has been charged with carrying out the 2021 hacks that drained more than $50 million from decentralized exchange Uranium Finance and forced the platform to shut down, the U.S. Department of Justice said Monday.
Jonathan Spalletta, 36, of Rockville, Maryland, faces one count of computer fraud and one count of money laundering, according to an indictment unsealed by the Southern District of New York. The charges follow a February 2025 seizure of approximately $31 million in crypto tied to the exploit, linking a years-old DeFi case to a named defendant for the first time.
The sales came amid market pressure. In 2025, Nakamoto reported a $166.2 million loss from changes in the fair value of its crypto holdings, as bitcoin's price fell to $87,519 on Dec. 31 from an average purchase price of $118,171 per bitcoin. Nakamoto has not purchased additional bitcoin since the end of last year, making its $20 million sale effectively a liquidation at a 40% discount relative to its average acquisition cost, the filing shows.
At the end of 2025, Nakamoto held $467.5 million in digital assets, including 1,625 unencumbered BTC worth roughly $142.2 million at the time. Nakamoto reported a net loss of $52.2 million in 2025, compared to $3.6 million in net loss the previous year.
Bitcoin treasury firm Nakamoto sells $20 million in BTC at 40% loss
Nakamoto Inc. (Nasdaq: NAKA), the bitcoin treasury firm chaired by entrepreneur David Bailey, has sold $20 million worth of bitcoin
BTC+0.17%

in March at an average price below its holding cost, according to its latest filing.
The company sold roughly 284 BTC for $20 million during the month, Nakamoto said in its earnings report released Monday, indicating that it offloaded the bitcoin at about $70,422 per coin.
It plans to use the proceeds to invest further in its core businesses and replenish working capital following recent mergers, per the filing.
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Upbit also announced that some trading restrictions will be implemented initially for newly listed assets. Accordingly, measures such as short-term buy restrictions after trading opens, limitations on low-priced sell orders, and the acceptance of only limit orders for a certain period will be put into effect.
Sky Protocol stands out as a decentralized lending platform where users can generate USDS by providing collateral, while USDS is designed as a stablecoin pegged to the US dollar. The project reportedly uses various algorithmic mechanisms to ensure price stability.
Bitcoin Exchange Upbit Announces New Listing and Update! Here Are the Details
Upbit announced the addition of two new digital assets to its platform and a partial change to its listing schedule.
South Korea-based cryptocurrency exchange Upbit has announced the addition of two new digital assets to its platform and a partial change to its listing schedule.
According to the announcement, Sky Protocol (SKY) and USDS will be made available to users with KRW and USDT trading pairs.
The exchange announced an update to the planned trading start time, particularly for USDS. Previously announced for March 31, 2026 at 12:00 PM, the opening time has been postponed to 1:00 PM. For SKY, the planned start time for trading is 12:00 PM on the same day.
It was emphasized that both assets operate on the Ethereum network, and users were reminded to select the correct network when making deposits and withdrawals. It was also stated that transaction start times may be delayed if sufficient liquidity is not available.
In recent election cycles, crypto-related political spending has increased, with groups like Fairshake raising more than $200 million in 2024. At the same time, lawmakers have sought clearer rules to address risks tied to digital assets, including fraud, market stability and transparency.
The CLARITY Act represents one of the most extensive attempts to define a unified framework for the sector. However, disagreements over specific provisions, particularly stablecoin rewards, have slowed progress and raised uncertainty about its passage timeline.
With Congress currently in recess and a Senate Banking Committee review expected in April, the path forward remains unclear. Analysts say failure to resolve the dispute soon could push action beyond the 2026 midterm elections.
US crypto bill stalls over stablecoin rewards dispute
Catenaa, Sunday, March 29, 2026- A major US cryptocurrency market structure bill has stalled in the Senate as disputes over stablecoin rewards intensify, delaying efforts to establish clearer rules for the digital asset sector.
The legislation, commonly known as the CLARITY Act, seeks to define oversight of digital assets, including jurisdiction between regulators, disclosure requirements and compliance standards. While it advanced in the House, Senate negotiations have slowed, with disagreements over stablecoin reward mechanisms emerging as the primary obstacle.
Others acknowledge concerns from banks, noting that unchecked reward systems may affect deposit flows. Observers familiar with negotiations describe repeated efforts to reach compromise, though none have yet succeeded.
There is cautious optimism among some stakeholders that a revised proposal could emerge in the coming weeks, potentially addressing both regulatory concerns and industry demands.
The United States has allowed cryptocurrency donations and financial activity under varying regulatory interpretations for more than a decade, with oversight shared among agencies such as the Federal Election Commission and financial regulators.