May 18, 2024 at 02:36AM
The US Department of Justice has charged computer scientists Anton and James Peraire-Bueno with exploiting open-source software in the Ethereum blockchain to steal $25 million. The scheme involved tampering with blockchain protocols in a 12-second heist. The brothers set up shell companies to handle the funds, but their online activities led to their arrest and potential 20-year jail sentences.
Based on the meeting notes provided, it seems like the key takeaways are:
– The US Department of Justice has arrested two brothers, Anton, 24, and James Pepaire-Bueno, 28, on allegations of exploiting a weakness in the MEV-Boost project’s code to orchestrate a scheme that allowed them to make off with $25 million in cryptocurrency.
– The brothers, who have backgrounds in computer science and math, were accused of tampering with and manipulating the protocols relied upon by millions of Ethereum users across the globe in a “technologically sophisticated, cutting-edge scheme.”
– The scheme allegedly involved manipulating the protocols used by validators and builders in the Ethereum blockchain world, and the exploitation reportedly took place within a 12-second timeframe.
– The brothers allegedly set up shell companies and engaged in transactions to launder the money they obtained from the heist. They face potential jail time of up to 20 years for each of the three counts and will have to repay any ill-gotten gains if convicted.
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