A Maryland cybersecurity consultant went on trial this week accused of hacking a decentralized cryptocurrency exchange twice in 2021 and walking away with tens of millions of dollars, some of which prosecutors say he funneled into rare trading cards. Jonathan Spalletta has pleaded not guilty to charges tied to the collapse of Uranium Finance, an exchange that allegedly ran out of money after the two attacks.
Opening statements began Monday in Manhattan federal court, according to Bloomberg, which reported that Spalletta allegedly stole nearly $55 million in hacked cryptocurrency. Prosecutors, however, have put the figure at roughly $53.3 million in a separate account of the case, according to mlex.com, which also reports that Spalletta was charged with computer fraud and money laundering in connection with the hacks. The two figures reflect differing accounts of the alleged loss and have not been reconciled in available reporting.
Two Attacks, One Exchange Left With Nothing
Federal prosecutors allege Spalletta carried out two separate hacks of Uranium Finance in 2021, and that the fallout was severe enough to end the exchange altogether. Per the same mlex.com report, prosecutors allege that Uranium Finance shut down because it lacked funds after the hacks. Court documents cited by the U.S. Department of Justice indicate the first of the two attacks occurred on or about April 8, 2021, describing the defendant by the online aliases “Cthulhon” and “Jspalletta.”
The indictment against Spalletta was unsealed on March 30, 2026, according to the U.S. Department of Justice. Bloomberg reports that Spalletta faces a maximum of 20 years in prison if convicted of the most serious charge against him.
Pokemon and Magic Cards Named in Allegations
Among the more unusual details to emerge from the case are allegations that Spalletta spent some of the proceeds on rare Pokemon cards and rare Magic: The Gathering cards, according to Bloomberg's reporting. The claims add an offbeat wrinkle to a case otherwise built around technical allegations of computer intrusion and money laundering against a defendant described as a cybersecurity consultant.
A Pattern Seen Elsewhere in Crypto Crime
Large-scale cryptocurrency theft cases have surfaced with some regularity in recent years, though the scale and mechanics vary widely. In 2022, authorities arrested a couple in connection with a cryptocurrency theft valued at $4.5 billion, with law enforcement seizing more than $3.6 billion of it, according to The Hill. In a separate case, the final defendant in a multimillion-dollar SIM-hijacking scheme tied to cryptocurrency exchange accounts across seven states was sentenced in 2021, per CyberScoop. A former administrator of the dark-web marketplace DeepDotWeb also pleaded guilty to a money-laundering conspiracy involving hacking tools and stolen financial data, according to the U.S. Department of Justice.
Spalletta's trial in Manhattan continues, with prosecutors and defense expected to present competing accounts of the alleged hacks and the fate of the money. The trial's outcome, along with any sentencing, has not yet been determined.
