In a matter of 12 seconds, two brothers managed to steal $25 million worth of Ethereum using a sophisticated plan they meticulously devised over several months. They took extensive measures to conceal their identities, creating fake companies and using various private cryptocurrency addresses and foreign exchanges to cover their tracks.
The brothers also conducted thorough online research to learn how to disguise themselves and trace their crimes.
Prosecutors from New York's Cyber Unit successfully apprehended the criminals who threatened the integrity of the financial system. Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was taken into custody in New York. They are accused of fraudulently accessing pending private transfer transactions to obtain Ethereum from investors. Despite their arrest, the brothers refused to return the stolen funds and engaged in money laundering. Investigators referred to the crime as "the Exploit," highlighting both the exploitation and the remarkable success of the operation.
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