Fun

Judge sets Oct 2025 trial for brothers allegedly behind $25M exploit

News Feed - 2024-08-20 04:08:19

Turner Wright4 hours agoJudge sets Oct 2025 trial for brothers allegedly behind $25M exploitShortly after their arrest in May, Anton and James Peraire-Bueno were released on $250,000 bonds until the conclusion of their criminal case.2370 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onA federal judge has set the start date for the criminal trial of two brothers allegedly responsible for stealing $25 million in crypto by exploiting maximal extractable value (MEV) bots.


In an Aug. 19 hearing in the United States District Court for the Southern District of New York, Judge Judge Jessica Clarke ordered that Anton Peraire-Bueno and James Pepaire-Bueno would stand trial on Oct. 14, 2025, for conspiracy to commit wire fraud, wire fraud and conspiracy to commit money laundering. Justice Department officials alleged the brothers fraudulently obtained $25 million worth of crypto “within approximately 12 seconds” using a scheme that “calls the very integrity of the blockchain into question.”


The alleged exploit of the Ethereum blockchain involved manipulating MEV bots using a series of test transactions that allowed them to steal crypto from a proposed block. US authorities arrested the Peraire-Bueno brothers in May, and they are now each free on a $250,000 bond in addition to certain travel limitations.


Related:How the Peraire-Bueno brothers allegedly drained $25M from their MEV bots exploit


According to US authorities, 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. If convicted, they could face up to 20 years in prison for each count.


In the last 12 months, several high-profile figures in the crypto industry have gone to prison following criminal trials or plea deals with prosecutors. Former FTX CEO Sam Bankman-Fried is serving a 25-year sentence for misusing customer funds and related charges, and former Binance CEO Changpeng Zhao is serving a four-month sentence following a guilty plea on one felony count.


Magazine:Decade after Ethereum ICO: Blockchain forensics end double-spending debate# Law# Ethereum# Court# Crimes# Hacks# RegulationAdd reaction

News Feed

Elon Musk’s X to remove likes and reposts from timeline within ‘weeks’
Tom Mitchelhill2 hours agoElon Musk’s X to remove likes and reposts from timeline within ‘weeks’Some believe the change could help cut down engagement-farming posts on the platform — something Crypto X may be all
Custodia Bank takes case to higher court after March setback
Ana Paula Pereira4 hours agoCustodia Bank takes case to higher court after March setbackCustodia Bank is challenging a lower court’s ruling in its battle for a Federal Reserve master account.454 Total views1 Total shar
KuCoin responds to claims of user funds being locked
Ezra Reguerra10 hours agoKuCoin responds to claims of user funds being lockedA KuCoin representative told Cointelegraph that it is already communicating with users to resolve the cases reported on Reddit.2850 Total views
Worldcoin: Unlocking the future of digital identity with proof of personhood
Savannah Fortis9 hours agoWorldcoin: Unlocking the future of digital identity with proof of personhoodThis episode of Decentralize with Cointelegraph explores how Worldcoin is pioneering the future of digital identity th
XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline
Este artículo también está disponible en español. A crypto analyst has made a bold prediction about the XRP price, highlighting that an explosive rise above $3 is not a m
Solana-Based Lending App Solend Gets Hacked for $1.26 Million in ‘Oracle Attack’
Solana-Based Lending App Solend Gets Hacked for $1.26 Million in "Oracle Attack" The Solana-centric lending application Solend lost $1.26 million in an oracle attack, according to
Tom Mitchelhill8 hours agoIt sounds fishy, but SBF really IS trading mackerel in prison: ReportThe former billionaire paid four “macks” for a haircut before his trial while staying at the Brooklyn Metropolitan Detent
Price analysis 4/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
Rakesh Upadhyay5 hours agoPrice analysis 4/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADABitcoin and altcoins have turned bullish following the BTC supply halving. Are new all-time highs in the making?2004 Total v
Digital Wealth Pioneer Yield App Unveils Mobile App for iOS and Android
Digital Wealth Pioneer Yield App Unveils Mobile App for iOS and Android press release PRESS RELEASE.ESTONIA — 17 JUNE 2022 —Yield App, a global FinTech company and dig
‘Pretty ordinary stuff’ — Traders seem unfazed by Bitcoin correction
Ciaran Lyons5 hours ago‘Pretty ordinary stuff’ — Traders seem unfazed by Bitcoin correctionCrypto traders are stressing that the Bitcoin price correction is “exactly what the cycle needs” right now.8089 Total v
IMF Tells Governments: Spend as Much as You Can and Then Spend More
IMF Tells Governments: Spend as Much as You Can and Then Spend More The head of the International Monetary Fund (IMF) has called on countries worldwide to spend
Bitcoin To ‘Brutally Bleed Lower’ Or Break New ATH In Q2, Expert Warns
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu