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Mistrial Declared for MIT-Educated Brothers Accused of $25 Million Cryptocurrency Heist
Two MIT-educated brothers exploited Ethereum validator software in a $25 million scheme using a high-speed bait-and-switch tactic, leading to a mistrial after jury deadlock.
- On Friday, U.S. District Judge Jessica Clarke in Manhattan declared a mistrial after jurors could not agree in the case of Anton Peraire-Bueno and James Peraire-Bueno, confirmed by William Fick.
- Both brothers studied at the Massachusetts Institute of Technology and were indicted in May 2024 despite a shift in enforcement priorities.
- Prosecutors say they exploited MEV-boost software used by Ethereum validators and planted deceptive trades that drained $25,000,000 in 12 seconds.
- Assistant U.S. Attorney Ryan Nees told jurors on October 15 that the brothers executed a `high-speed bait-and-switch`, while Katherine Trefz, lawyer for James Peraire-Bueno, argued the strategy was legitimate, and Manhattan U.S. Attorney Jay Clayton's office did not respond.
- Its prosecution highlights vulnerabilities in Ethereum transaction-validation systems, with prosecutors calling the first-of-its-kind wire fraud and money laundering charge a test of blockchain integrity and digital currency markets.
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17 Articles
Mistrial Declared in $25M Crypto Trial of MIT-Educated Brothers
U.S. District Judge Jessica Clarke of the Southern District of New York sent the jurors home after they delivered a note stating they wished to be adjourned after three days of deliberating the fates of Anton and James Peraire-Bueno. Despite many sleepless nights and a session where half of the jury broke down crying, they "are not making any progress," said the note, which was signed by all members of the 12-person jury.
Coverage Details
Total News Sources17
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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