MIT Grads Indicted in $25M Ethereum Blockchain Heist
May 16, 2024The U.S. Department of Justice indicted MIT graduates Anton and James Peraire-Bueno for a 12-second cryptocurrency theft scheme.
The brothers are accused of stealing $25 million by manipulating the Ethereum blockchain, a first-of-its-kind heist.
Using their advanced skills, they allegedly exploited Ethereum's transaction validation process to steal from traders.
Despite being confronted, Anton and James Peraire-Bueno refused to return the stolen funds.
They face over 20 years in prison if convicted, highlighting the serious legal consequences of such cybercrimes.
The case has prompted debate over the legality of certain blockchain transactions, revealing differing opinions within the industry.
The DOJ's challenge is to prove the allegations in court, with the tech community closely watching this landmark case.
Summary based on 24 sources
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Sources
BBC News • May 15, 2024
US brothers arrested for stealing $25m in crypto in just 12 secondsYahoo News • May 15, 2024
US charges two brothers with novel $25 million cryptocurrency heist