United States Attorney for the Southern District of New York, Jay Clayton, announced on Mar. 30 that Jonathan Spalletta, also known as “Cthulhon” and “Jspalletta,” has been indicted on charges of computer fraud and money laundering related to hacks targeting the decentralized cryptocurrency exchange Uranium Finance. Spalletta surrendered to authorities and is scheduled to appear before U.S. Magistrate Judge Ona T. Wang.
The indictment alleges that Spalletta executed two separate attacks against Uranium Finance in April 2021, exploiting vulnerabilities in the platform’s smart contracts to steal large amounts of cryptocurrency. In total, he is accused of fraudulently obtaining approximately $54.7 million across both incidents.
According to U.S. Attorney Jay Clayton, “As alleged, Jonathan Spalletta repeatedly hacked smart contracts to steal millions of dollars’ worth of other people’s money for himself, and destroyed a cryptocurrency exchange in the process.” Clayton further said, “In describing his alleged ‘heist,’ Spalletta told another individual ‘Crypto is just fake internet money anyway.’ Stealing from a crypto exchange is stealing—the claim that ‘crypto is different’ does not change that. For the victims, there is nothing different about having your money taken. Spalletta cost real victims real losses of tens of millions of dollars, and now he’s under real arrest.”
HSI Acting Special Agent in Charge Kevin Murphy said: “This indictment demonstrates HSI’s commitment to protecting the integrity of financial systems and holding cybercriminals accountable, regardless of the complexity or novelty of their schemes.” Murphy added: “HSI will continue to aggressively pursue those who exploit vulnerabilities in emerging technologies for personal gain and ensure that justice is served for victims of these crimes.”
Prosecutors allege that after obtaining funds through these hacks—$1.4 million from an initial attack followed by $53.3 million weeks later—Spalletta laundered much of it using cryptocurrency mixers such as Tornado Cash before purchasing rare collectibles including trading cards and antique coins with proceeds from the scheme.
Authorities seized approximately $31 million worth of cryptocurrency linked to these activities in February 2025 during a judicially-authorized seizure operation at Spalletta’s residence.
Spalletta faces one count each for computer fraud (maximum sentence: ten years) and money laundering (maximum sentence: twenty years). The prosecution notes all charges are allegations at this stage; any sentencing will be determined by a judge if conviction occurs.
