Two MIT graduates, Anton Peraire-Bueno and James Peraire-Bueno, were arrested for allegedly stealing $25 million worth of Ethereum through a sophisticated blockchain manipulation scheme. The Department of Justice highlighted its focus on emerging financial crimes as the brothers exploited a vulnerability in the Ethereum blockchain, manipulating transactions to divert cryptocurrency. The heist, described as 'very first of its kind,' took only 12 seconds to complete
The defendants, facing charges of wire fraud and money laundering, meticulously planned the exploit over months, concealing their identities and stolen proceeds through shell companies and foreign exchanges. The FBI continues to lead investigations using cutting-edge technology to combat financial crimes on and off the blockchain, with the brothers potentially facing five years in prison for each charge if convicted. https://www.hackread.com/mit-graduate-brothers-arrested-ethereum-heist/