Brothers accused of stealing $25 million in cryptocurrency in 12 seconds in Ethereum blockchain scheme

Washington — A pair of brothers from New York and Boston were taken into federal custody Tuesday, accused by prosecutors of devising a novel criminal scheme to steal about $25 million in cryptocurrency from a commonly used blockchain, according to a newly unsealed indictment. Anton and James Peraire-Bueno were charged with wire fraud and conspiracy to commit money laundering.

They are specifically accused of exploiting the 'validators' on the blockchain, vital components of the integrity and security of transactions. 'In doing so, they fraudulently gained access to pending private transactions and used that access to alter certain transactions and obtain their victims' cryptocurrency,' prosecutors alleged in court documents.

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