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MIT Alumni Arrested in $25 Million Dripto Heist.
Two MIT-educated brothers, 24-year-old Anton Peraire-Bueno and 28-year-old James Peraire-Bueno, were arrested today on charges related to a $25 million cryptocurrency theft. Federal prosecutors in Manhattan described the heist as a "new" scheme that compromised the #Ethereum blockchain, marking a first in US criminal charges for this type of fraud.
The Peraire-Bueno brothers allegedly carried out their sophisticated theft in #April 2023 and managed to transfer $25 million from merchants in just 12 seconds. This was achieved by illegally accessing pending transactions and altering the flow of cryptocurrency. U.S. Attorney Damian Williams emphasized the seriousness of the breach, saying, "As we allege, the defendants' scheme calls into question the integrity of the blockchain."
Anton, who faces charges of wire fraud, wire fraud and conspiracy to commit money laundering, was detained in Boston and James was detained in New York. Responses from their legal representatives are awaited.
The two brothers, who studied computer science and mathematics at the Massachusetts Institute of Technology, reportedly used their expertise to manipulate Ethereum blockchain protocols. They exploited a flaw in the MEV-boost software, which is widely used to confirm the legitimacy of new transactions before they are recorded on the blockchain by Ethereum network validators.
Following the robbery, the brothers are accused of refusing to return the stolen funds and instead attempting to launder and conceal their ill-gotten gains. The case continues to emerge as authorities delve deeper into the details of the crime.
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