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Published 30 days ago

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.
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