{"id":8586,"date":"2024-05-19T00:13:28","date_gmt":"2024-05-19T00:13:28","guid":{"rendered":"https:\/\/sotnews.agency\/?p=8586"},"modified":"2024-05-19T00:13:28","modified_gmt":"2024-05-19T00:13:28","slug":"two-brothers-arrested-for-stealing-25m-in-just-12-seconds","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=8586","title":{"rendered":"Two brothers arrested for stealing $25m in just 12 seconds"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 35 Second <\/div>\n\n <\/div>

Two brothers who studied at one of the most prestigious universities in the US have been charged with stealing $25m (\u00a320m) in cryptocurrency in 12 seconds.<\/p>\n

Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are accused of wire fraud and money laundering.<\/p>\n

The US Department of Justice said the alleged heist is the first of its kind.<\/p>\n

Prosecutors also say the pair, reportedly educated at the Massachusetts Institute of Technology (MIT), carried it out in April 2023.<\/p>\n

\u201cThe Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds,\u201d said Deputy Attorney General Lisa Monaco.<\/p>\n

She added that agents from the Internal Revenue Service (IRS) played a key role in unravelling the \u201cfirst-of-its kind wire fraud and money laundering scheme\u201d.<\/p>\n

Prosecutors allege the two used highly specialised skills that they learned at \u201cone of the most prestigious universities in the world\u201d to exploit Ethereum\u2019s process for validating transactions.<\/p>\n

The brothers studied mathematics and computer science, according to the indictments, and both attended MIT, according to news reports.<\/p>\n

\u201cThe defendants\u2019 scheme calls the very integrity of the blockchain into question,\u201d US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments.<\/p>\n

The brothers allegedly stole from Ethereum traders by fraudulently gaining access to pending private transactions and then altering the transactions to obtain their victims\u2019 cryptocurrency.<\/p>\n

The process, which investigators say they referred to as \u201cthe Exploit\u201d, took only a matter of seconds to execute.<\/p>\n

When confronted by a representative for Ethereum, officials say the brothers declined to return the funds and took steps to launder and hide their stolen gains.<\/p>\n

Prosecutors note that this is the first time that such a \u201cnovel\u201d form of fraud has ever been subject to criminal charges.<\/p>\n

They each face over 20 years in prison if found guilty.<\/p>

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Two brothers who studied at one of the most prestigious universities in the US have been charged with stealing $25m (\u00a320m) in cryptocurrency in 12 seconds. Anton Peraire-Bueno, 24, and… <\/p>\n","protected":false},"author":1,"featured_media":8585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/8586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8586"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/8586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/8585"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}