The US Department of Justice has arrested two brothers for stealing $25 million in cryptocurrencies.
Department of Justice (DOJ) mentioned Anton and James Pepper-Bueno were arrested for stealing millions in cryptocurrency via the Ethereum blockchain in just 12 seconds.
The brothers allegedly used a Maximum Extractable Value (MEV) exploit to steal money from users and are charged with conspiracy to commit wire fraud and money laundering.
“The brothers, who studied computer science and mathematics at one of the most prestigious universities in the world, allegedly used their specialized skills and education to manipulate and tamper with the protocols relied upon by millions of Ethereum users around the world,” Damien Williams, US Attorney for the Southern District of New York, said in a statement. statement.
As IRS-CI Special Agent in Charge Thomas Fattoroso noted, the brothers committed a first-of-its-kind manipulation of the Ethereum blockchain through deception. The pair gained access to pending transactions, altering the movement of the cryptocurrency and ultimately stealing the asset.
“No matter how complex a case, we continue to lead efforts in financial forensic investigations,” said Thomas Fattorosso, Special Agent in Charge at IRS-CI.
Earlier this month, the Justice Department selected consulting firm Forensic Risk Alliance (FRA) as Binance's regulator to monitor the company's performance for three years.
The Financial Supervision Authority is responsible for implementing the requirements of the agreement. It will have access to internal records, buildings and employees to provide the Ministry of Justice with information on the status of the stock exchange.
