US charges two brothers with novel $25 million cryptocurrency heist
- Two brothers from the Massachusetts Institute of Technology were arrested for stealing $25 million in cryptocurrency by exploiting the Ethereum blockchain's integrity.
- Federal prosecutors labeled the scheme as "novel" and the first of its kind to result in U.S. criminal charges.
- The brothers executed the theft in April 2023 within 12 seconds, manipulating transaction protocols on the Ethereum blockchain to steal the funds.
50 Articles
50 Articles
The two stole 25 million dollars in the USA — from their home office. The stolen goods: The cryptocurrency Ether.
Two MIT alumni brothers accused of $25 million crypto fraud in record time
The Justice Department said that this is the first time anyone has exploited the Ethereum blockchain's transaction validation protocols to fraudulently gain control over pending transactions. Once they gained control illicitly, the brothers allegedly manipulated all pending cryptocurrency transfers and stole $25 million from unsuspecting victims within an extraordinarily short...Read Entire Article
Two brothers studying at MIT charged with stealing $25 million worth of cryptocurrency
Two brothers studying at the prestigious Massachusetts Institute of Technology (MIT) were arrested on Wednesday (May 15) and charged with stealing $25 million worth of cryptocurrency. Authorities said that the brothers- Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28,- carried out a cutting-edge scheme to exploit the Ethereum blockchain's integrity and steal millions of dollars of cryptocurrency, the news agency Reuters reported.
Coverage Details
Bias Distribution
- 53% of the sources are Center
To view factuality data please Upgrade to Premium