Partner Benjamin Bathgate, Chair of WeirFoulds’ Commercial Litigation Practice Group, and Partner Jessica Stansfield were featured by The Globe and Mail in an article written by Alexandra Posadzki on April 12, 2025.
The feature focuses on a case involving Canadian, Andean Medjedovic, who has been indicted in the Eastern District of New York for wire fraud, computer hacking, and attempted extortion in relation to siphoning nearly $16.6 million USD in digital tokens out of two liquidity pools from the Indexed Finance trading platform in 2021. Mr. Medjedovic has also been indicted for allegedly, two years later, using a similar tactic on a separate trading platform, KyberSwap, to siphon approximately $48.4 million USD.
Mr. Bathgate and Ms. Stansfield represent a third party, Cicada 137 LLC, that is seeking to recover $9.6 million USD worth of digital cryptocurrency tokens from Mr. Medjedovic’s exploit of Indexed Finance. Commenting on the nature of the case, Ben said that there is a risk to Mr. Medjedovic continuing to remain at large, stating that “A bad actor not brought to justice and held to account for one act of fraud will surely commit another.”
With the recent indictment in New York, Ms. Stansfield questioned “Why is a Canadian teen, prolific at exploiting decentralized markets and causing harm to Canadians […] being held to account in the courts of New York?”
Mr. Bathgate and Ms. Stansfield also stated they are committed to a “dogged pursuit of [Medjedovic] until justice is served and the cryptocurrency tokens returned.”
Mr. Bathgate is a leading corporate commercial litigator who has built a far-reaching cross-border practice and network, including foreign lawyer contacts, investigators, forensic experts and other specialized service providers. His practice focuses on complex, high stakes corporate and commercial litigation and providing his clients with trusted advice on pre-litigation investigations and emergency relief in the courts.
Ms. Stansfield brings a client-focused and practical approach to complex and high stakes litigation. She has significant experience acting for both private and publicly held corporations, financial institutions, and individuals in disputes involving asset tracing, civil frauds and conspiracies, shareholder rights, director and officer liability, consumer banking services, and breach of fiduciary and other employee duties.
To learn more about Benjamin Bathgate or Jessica Stansfield, please visit their respective profile pages.
To learn more about WeirFoulds’ Commercial Litigation Practice Group, click here.
