Two brothers in the U.S., Anton and James Perair-Bueno, were arrested for exploiting the #Ethereum #blockchain and stealing $25 million. They face charges of conspiracy to commit wire fraud and money laundering.
The brothers allegedly manipulated Ethereum by accessing pending transactions and stealing cryptocurrencies within a 12-second attack. They targeted MEV bot operators, using 16 Ethereum validator accounts and investing 529.5 #ETH (~$880,000). They identified valuable assets through test transactions and executed "trap transactions" to manipulate token prices.
After obtaining $25 million in stablecoins and liquid cryptocurrencies, they attempted to launder the funds through multiple transactions. They sought online information on hiding their involvement and looked for non-verification exchanges, as well as legal advice on cryptocurrency-related cases.
If convicted, they could face up to 20 years in prison. Prosecutor Damian Williams emphasized that sophisticated fraud will be relentlessly pursued to protect financial system integrity.
In November 2023, a Uniswap user lost over $700,000 to MEV bots within seconds.