In recent years, there has been a remarkable theft in the cryptocurrency world. Anton Peraire-Bueno (24) and James Peraire-Bueno (28) stole a cryptocurrency worth $25 million in just 12 seconds. The United States Department of Justice described the case as ‘one of a kind’. The two brothers are now on trial for wire fraud and money laundering, each facing up to 20 years in prison.
Ethereum Transfer Verification Process Abused
Educated at MIT, these brothers were highly skilled in software. The theft was carried out by abusing the process of verifying money transfer transactions on the Ethereum network. Although Ethereum management tried to contact the brothers after detecting this theft, they were not successful and the incident was reported to the authorities.
All eyes and ears are now on the US judiciary’s decision on this grand larceny.
