The two brothers, charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, could face up to 60 years in prison.
U.S. officials said the individuals engaged in a "first-of-its-kind manipulation of the Ethereum blockchain" by tampering with its protocols over validating transactions.
Authorities with the United States Department of Justice have unsealed an indictment alleging that two individuals stole $25 million in cryptocurrency in a scheme that “exploit the very integrity of the Ethereum blockchain.”brothers Anton Peraire-Bueno and James Pepaire-Bueno with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. According to U.S.
“These brothers allegedly committed a first-of-its-kind manipulation of the Ethereum blockchain by fraudulently gaining access to pending transactions, altering the movement of the electronic currency, and ultimately stealing $25 million in cryptocurrency from their victims,” said Thomas Fattorusso, a special agent with the IRS Criminal Investigation’s New York Field Office.
U.S. authorities said the brothers rejected requests to return the stolen funds and hid the assets using shell companies and foreign crypto exchanges, transferring them to several wallets. They could face up to 20 years in prison for each count if convicted.Bitcoin price taps $64.7K as US CPI shows core inflation at 3-year low
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Brothers Accused of $25M Ethereum Exploit as U.S. Reveals Fraud ChargesSam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
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