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The U.S. Department of Justice on Wednesday announced an indictment against two brothers, accusing them of stealing $25 million in cryptocurrency in about 12 seconds.
Calling it a “first of its kind” fraud, the U.S. Department of Justice detailed a seconds-long scheme by the brothers to allegedly manipulate the Ethereum blockchain to redirect pending transactions and steal $25 million.
“As we speak, the defendants’ scheme calls into question the integrity of the blockchain,” Damian Williams, the U.S. attorney for the Southern District of New York, said in a statement.
Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested Tuesday on wire fraud and money laundering charges.
According to the Justice Department, the Pepper-Bueno brothers studied mathematics and computer science “at one of the most prestigious universities in the United States.”
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