Two former MIT students charged with stealing $25 million of crypto in 12 seconds
CNN
Two brothers who studied at the Massachusetts Institute of Technology were arrested on Wednesday on U.S. charges that they carried out a cutting-edge scheme to exploit the Ethereum blockchain’s integrity and steal $25 million worth of cryptocurrency.
Two brothers who studied at the Massachusetts Institute of Technology were arrested on Wednesday on US charges that they carried out a cutting-edge scheme to exploit the Ethereum blockchain’s integrity and steal $25 million worth of cryptocurrency. Federal prosecutors in Manhattan called the scheme perpetrated by Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, “novel” and said the case marked the first time that such a fraud had ever been the subject of U.S. criminal charges. Authorities said they executed their elaborate heist in April 2023, stealing $25 million from traders in just 12 seconds by fraudulently gaining access to pending transactions and altering the movement of cryptocurrency. “As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said. An indictment charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was arrested in New York. Their lawyers did not immediately respond to requests for comment.
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