Jonathan Raa | Nurphoto | Getty Images
The Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds.
DOJ called it a “first-of-its kind” fraud, detailing the seconds-long scheme where the brothers allegedly manipulated the Ethereum blockchain to redirect pending transactions and steal $25 million.
“As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” said U.S. Attorney Damian Williams for the Southern District of New York in a statement.
Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on Tuesday for charges of wire fraud and money laundering.
The Pepaire-Bueno brothers studied math and computer science “at one of the most prestigious universities in the country,” according to the DOJ.
This is breaking news. Please check back for updates.
