The brothers, Anton and James Peraire-Bueno, face up to 60 years in prison if convicted.
Two brothers were taken into federal custody Tuesday for allegedly stealing about $25 million worth of cryptocurrency in just a few seconds in a “first-of-its-kind manipulation” of the Ethereum blockchain.
The brothers set up a series of Ethereum validators “in a manner that concealed their identities through the use of shell companies, intermediary cryptocurrency addresses, foreign exchanges, and a privacy layer network,” according to the indictment. They allegedly targeted three traders — whose behavior they had studied for months ahead of time, prosecutors claim — and set up “a series of test transactions or ‘bait transactions’” to attract bots the traders used.
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