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The Office of Justice on Wednesday declared the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within about 12 seconds.
DOJ named it a “1st-of-its kind” fraud, detailing the seconds-lengthy scheme in which the brothers allegedly manipulated the Ethereum blockchain to redirect pending transactions and steal $25 million.
“As we allege, the defendants’ scheme calls the pretty integrity of the blockchain into question,” mentioned U.S. Legal professional Damian Williams for the Southern District of New York in a statement.
Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, were arrested on Tuesday for prices of wire fraud and money laundering.
The Peraire-Bueno brothers researched math and laptop science “at a person of the most prestigious universities in the region,” according to the DOJ, incorporating that education would have aided them have out the alleged fraud.
If convicted, the brothers confront a utmost of 20 decades in prison for each of the a few counts they are billed with.
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