Indicted hacker returns stolen funds to cryptocurrency platform

A former Gabagool employee and crypto detective accused of stealing $ 350,000 from the Velodrome cryptocurrency exchange, has confessed to the theft and returned the funds.

The Gabagool programmer posted a note on Twitter explaining what prompted him to steal $ 350,000. According to the attacker, he lost his own funds due to the fall in the value of cryptocurrencies in May, so he decided to compensate for his losses by stealing money from the Velodrome exchange. «I can’t say anything else. I’m extremely stupid and now I’m incredibly disappointed in myself,» Gabagool admitted and assured that he had decided to return the funds earlier, before the exchange was «on his trail,» but he didn’t have time.

According to Velordome representatives, Gabagool gained illegal access to the address where the company’s employees' salaries were kept. According to Velordome, the theft did not affect client assets, but among the victims were employees of the exchange, former colleagues of Gabagool. Interestingly, the hacker has become known in the crypto world for his detective work — Gabagool has repeatedly participated in the investigation of cyberattacks and various cryptocurrency scams.