A Maryland man has been charged with stealing more than $53m after allegedly hacking the Uranium Finance cryptocurrency exchange twice in 2021 and laundering the proceeds through a crypto mixer.

Jonathan Spalletta, 36, appeared in court after surrendering to law enforcement, according to US prosecutors. Authorities allege the attacks drained most of the exchange’s assets and forced the platform to shut down due to a lack of funds. Prosecutors said the case highlights the risks associated with vulnerabilities in decentralized finance platforms.

Officials said the alleged attacks involved exploiting flaws in smart contract code. In one instance, Spalletta manipulated a rewards system to withdraw funds he was not entitled to…