MIT Graduates Charged with Stealing $25 Million in Ethereum Heist

Two brothers, Anton (24) and James Peraire-Bueno (28), are accused of pulling off a unique cyber heist, stealing $25 million in Ethereum cryptocurrency. Prosecutors claim it's the first of its kind.

The MIT alumni allegedly exploited a vulnerability in the Ethereum blockchain over several months. Their scheme involved manipulating the transaction validation process to divert funds to themselves from unsuspecting traders. The heist itself took only seconds, but the planning was elaborate.

Federal authorities arrested the brothers and charged them with fraud and money laundering in Manhattan. Prosecutors say the brothers used their advanced computer science and engineering knowledge from MIT to orchestrate the crime.

When Ethereum representatives confronted them, the brothers allegedly refused to return the stolen funds. Instead, they're accused of laundering the money to hide its origin. If convicted, they could face over 20 years in prison.
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