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MIT-educated brothers are arrested for 'stealing $25 million in cryptocurrency in 12 seconds' in...
[Daily Mail, where America gets its news] …in cutting-edge scheme targeting Ethereum blockchain
An indictment charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was arrested in New York. The indictment alleged that for months, the Peraire-Bueno brothers plotted to manipulate and tamper with the protocols used to validate transactions for inclusion on the Ethereum blockchain, a public ledger that records each cryptocurrency transaction. Prosecutors said they did so by exploiting a vulnerability in the code of software called MEV-boost that is used by most Ethereum network 'validators,' who are responsible for checking that new transactions are valid before they are added to the blockchain. It is believed that after carrying out the heist, the brothers rejected requests to return the funds and instead took steps to launder and hide the stolen cryptocurrency. Over the course of several months the brothers learned the trading behaviors of the victim traders whose cryptocurrency they ultimately stole. As they planned the supposed heist, they allegedly also took numerous steps to conceal their identities and lay the groundwork to conceal the stolen proceeds, including by setting up shell companies and using multiple private cryptocurrency addresses and foreign cryptocurrency exchanges, prosecutors say. Related: Blockchain 01/21/2024 WEF: Biometric Digital ID Cards Could Track Vaccination Status, Dutch Queen Máxima Says at Davos Blockchain 11/01/2023 Poor Gaza, rich Hamas-The Gaza Strip is one of the poorest places on earth, but its leaders bask in huge wealth. Blockchain 10/17/2023 Who funds Hamas? Posted by: Skidmark 2024-05-16 |
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