The U.S. Attorney’s Office for the Southern District of New York has charged a Maryland man in connection with a series of cryptocurrency hacks that allegedly drained more than $50 million from a decentralized exchange, according to newly unsealed court filings.
Prosecutors identified Jonathan Spalletta, also known by the online aliases “Cthulhon” and “Jspalletta.” Authorities confirmed that he surrendered earlier this week and is now facing charges of computer fraud and money laundering, which carry a combined maximum sentence of up to 30 years in prison if convicted.
According to the indictment, Spalletta allegedly targeted Uranium Finance in April 2021 through two separate exploits. In the first incident, prosecutors say he manipulated smart contract vulnerabilities to extract approximately $1.4 million in crypto assets by repeatedly triggering unauthorized reward withdrawals.
Weeks later, investigators allege he carried out a second and far larger attack by exploiting another flaw across multiple liquidity pools. This hack resulted in losses of roughly $53.3 million and ultimately forced the platform to shut down due to depleted funds.
Authorities further claim that Spalletta attempted to disguise the proceeds through complex laundering techniques, including the use of crypto mixing services such as Tornado Cash. He allegedly spent the illicit gains on high-value collectibles, including rare trading cards, antique Roman coins, and historical artifacts.
Law enforcement later seized approximately $31 million worth of cryptocurrency linked to the scheme in 2025, officials said.
U.S. Attorney Jay Clayton stated that the case underscores that digital asset crimes are treated no differently from traditional financial theft. Investigators emphasized that exploiting vulnerabilities in decentralized finance platforms can still result in severe criminal consequences.
The charges remain allegations, and Spalletta is presumed innocent unless proven guilty in court. The case highlights increasing regulatory scrutiny and enforcement actions targeting cybercrime in the rapidly evolving crypto sector.
