Bat Yam Citzen Busted for $186M U.S. Crypto Heist

TheCryptoTimesPubblicato 2025-05-03Pubblicato ultima volta 2025-05-03

Alexander Gurevich, a 47-year-old dual Russian-Israeli citizen from Bat Yam, was arrested at Ben-Gurion Airport on May 1 after attempting to flee to Russia using a passport issued under a new name, “Alexander Block.” 

He is wanted in the United States for allegedly stealing millions in a 2022 crypto hack. The fiasco targeted California-based blockchain company Nomad. U.S. officials accuse him of computer crimes, money laundering, and transferring stolen digital property. His identity had not been revealed publicly until his arrest in Israel last week.

According to a U.S. extradition request, Gurevich allegedly took advantage of a security weakness in Nomad’s system and made off with about $2.89 million worth of crypto tokens. Just days later, other hackers discovered the same flaw and drained nearly $186 million in total, nearly crashing the company, according to a local report.

The FBI launched an investigation after Gurevich contacted Nomad’s Chief Technology Officer, James Prestwich, on Telegram, admitted to “amateurishly” probing the system, and apologized for “the trouble he caused.” 

He reportedly returned $162,000 but also demanded a $500,000 reward. “He wanted half a million for pointing out the vulnerability,” the request claims. Prosecutors say Gurevich changed his name on April 29 and received a passport under that new identity the very next day. On May 1, he was caught at the airport before boarding a flight. He appeared in court the following day in handcuffs. 

The Israeli State Attorney’s Office International Department submitted a petition on May 2 to the Jerusalem District Court to declare him extraditable. Justice Minister Yariv Levin had signed the order for Gurevich’s court appearance shortly after his return to Israel on April 19, the second day of Passover.

Gurevich, who got Israeli citizenship in 2017, has spent most of the last few years abroad, including in Africa, according to authorities. He was indicted in the U.S. in August 2023 on eight federal counts. The charges in America carry sentences of up to 20 years, much higher than the three-year maximum for similar offenses in Israel. U.S. prosecutors filed the extradition request in December 2024.

Gurevich is currently being held in custody by court order from Judge Einat Avman-Moller. He is represented by the Public Defender’s Office. The arrest was coordinated by the Israel Police National Fraud Unit and the Tel Aviv Fraud Division.

Also Read: Deribit Plans to Enter U.S. Amid Trump’s Pro-Crypto Parade



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AMD acquires Taalas: hardware AI manages without scarce HBM memory

AMD has agreed to acquire Toronto-based startup Taalas, which tackles a key bottleneck in AI inference: the constant need to transfer model weights from memory to the processor for each generated token. Taalas's chips eliminate this operation by permanently embedding the model weights into the transistors themselves. This data transfer is what currently limits inference speed and has made high-bandwidth memory (HBM) a scarce commodity. Taalas's first test chip, fabricated on TSMC's 6nm process, reportedly generated tokens for Meta's Llama 3.1 8B model at speeds 48 times faster than comparable Nvidia GPUs. Its architecture features a mask ROM section for fixed weights and SRAM for adaptable components. However, this design comes with a significant trade-off: each chip is permanently dedicated to a single model. Switching models requires a partial redesign and fabrication, a process taking about two months. While the acquisition is seen as part of AMD's rivalry with Nvidia in inference, its broader implication lies in challenging the assumption of a permanent HBM memory shortage. The AI memory market is currently booming, with HBM supply sold out through 2026. Yet, Taalas's technology demonstrates that the memory bottleneck is an engineering challenge, not an absolute physical constraint. This aligns with industry-wide efforts from companies like Nvidia (through model compression) and memory makers like Samsung and SK hynix (developing new packaging and storage technologies) to reduce dependency on scarce HBM. AMD's move suggests that the current high prices for memory, driven by AI demand, may not be sustainable. It highlights a growing engineering push against the premise of perpetual memory scarcity, reminding investors that memory has historically been a cyclical business.

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AMD acquires Taalas: hardware AI manages without scarce HBM memory

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Vance says US-Iran conflict remains in 'midgame', US military 'seeks exit', Iran sets 'six conditions for reopening the strait'

U.S. Vice President Vance described the U.S.-Iran conflict as being in the "mid-game," stating the U.S. is utilizing diplomatic, economic, and military tools, with a focus on increasing oil and gas shipments through the Strait of Hormuz. Meanwhile, U.S. Chairman of the Joint Chiefs of Staff Gen. Dan Caine is reportedly seeking an "exit" privately, expressing concerns that airstrikes alone are insufficient to achieve objectives and that further escalation carries significant risks. He highlighted critical ammunition shortages for key missile defense systems. In response, Iran’s Supreme National Security Council Secretary, Zolgadr, presented six conditions for reopening the Strait of Hormuz: a U.S. pledge never to threaten Iran, an end to aggression against Iran and its allies, withdrawal of forces from the region, war reparations, lifting of all sanctions, and the unconditional unfreezing of Iranian assets. These demands, seen as a high bar set by hardliners, contrast with more pragmatic requests made in backchannel talks, which focus on lifting the blockade, restoring oil sanctions waivers, and accessing frozen funds. While Iran and Oman are close to a technical agreement on a temporary shipping lane, Iran clarified this does not equate to a full reopening of the strait, which remains contingent on U.S. meeting its conditions. Attacks on commercial vessels in the area continue, with recent incidents attributed to Iran. Despite pauses in military action and expressions of openness to talks from both sides, negotiations are currently stalled over Iran's economic demands and U.S. insistence on freedom of navigation.

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Vance says US-Iran conflict remains in 'midgame', US military 'seeks exit', Iran sets 'six conditions for reopening the strait'

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