Two brothers who graduated from MIT were arrested for stealing 25 million dollars worth of Ethereum.

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The two brothers Anton (25 years old) and James Peraire-Bueno (29 years old), graduates of MIT, were just put on trial in Manhattan for allegedly embezzling 25 million USD from the Ethereum blockchain. According to the U.S. Department of Justice, this is the first case of its kind, as the two defendants are said to have exploited the transaction validation process of Ethereum in 2023 to manipulate pending transactions, executing the theft in just 12 seconds.

Prosecutors said they had planned for months, analyzing blockchain data, setting up shell companies, and creating wallets to launder money. Both are currently out on bail of 250,000 USD each and deny the charges. If convicted, they could face up to 20 years in prison for each count. The case is seen as a major test for the integrity and trust in the Ethereum ecosystem.

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