Uranium Finance hacker convicted over more than $53 million theft
The conviction closes a case that drained Uranium Finance, recovered some funds and left the operator facing prison.
A Maryland man has been convicted for hacking Uranium Finance twice in 2021 and stealing more than $53 million, a case that ended with the exchange shutting down and its operator now facing prison time. Prosecutors say Jonathan Spalletta first drained about $1.4 million by abusing a smart-contract flaw, then later exploited a separate coding error to take nearly 90% of the liquidity pools. He allegedly laundered the proceeds through Tornado Cash and other exchanges, then spent the money on high-end collectibles including Magic cards, a Pokémon base set, and a rare Roman coin. Investigators later recovered about $31 million from linked wallets and seized collectibles from his residence in February 2025. Spalletta faces up to 10 years for computer fraud and up to 20 years for money laundering.
Why it matters
For Uranium Finance users and the wider crypto market, the verdict puts a legal end point on a theft that emptied most of the exchange’s liquidity and forced a shutdown. It also shows investigators recovered part of the stolen crypto and seized assets linked to the case, but not all of the funds. That leaves the exchange’s collapse and the scale of the loss as the lasting result for customers and counterparties.
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Sources
- BleepingComputer