The United States Justice Department announced on Wednesday that it had charged two brothers with stealing $25 million in cryptocurrency in approximately 12 seconds.
Anton Peraire-Bueno, 24, from Boston, and James Pepaire-Bueno, 28, from New York, face charges of conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The Justice Department alleged that the duo exploited vulnerabilities in the Ethereum blockchain to fraudulently acquire the cryptocurrency.
The brothers were apprehended on Tuesday in Boston and New York and are scheduled to appear in court on Wednesday before US magistrate judges Paul G. Levenson in the District of Massachusetts and Valerie Figueredo in the Southern District of New York. US Deputy Attorney General Lisa Monaco stated that the brothers orchestrated a technologically advanced scheme over months, executed in just seconds.
“As cryptocurrency markets continue to evolve, the Department will continue to root out fraud, support victims, and restore confidence to these markets,” she added.
US Attorney Damian Williams in the Southern District of New York revealed that the brothers’ background in computer science and mathematics from a prestigious university enabled them to manipulate protocols used by millions of Ethereum users worldwide. If found guilty, each brother could face a maximum of 20 years in prison for each charge.
