Brothers Accused of Stealing $25 Million in Cryptocurrency Arrested in Federal Custody

Brothers from New York and Boston Accused of Stealing $25 Million in Cryptocurrency

In a groundbreaking criminal scheme, two brothers, Anton and James Peraire-Bueno, were taken into federal custody for allegedly stealing approximately $25 million in cryptocurrency from the Ethereum blockchain. The indictment, recently unsealed, charged the brothers with wire fraud and conspiracy to commit money laundering.

The brothers, who studied math and computer science at a prestigious university, utilized their unique skills to carry out the elaborate theft within the Ethereum blockchain. James Peraire-Bueno, a 2021 graduate of the Massachusetts Institute of Technology, and Anton Peraire-Bueno, who earned a B.S. in computer science and engineering in February 2024, were accused of devising a first-of-its-kind criminal endeavor in a matter of seconds.

The elaborate scheme involved baiting specific victim traders on the Ethereum platform and exploiting the “validators” on the blockchain to gain access to pending private transactions. The brothers allegedly altered transactions to obtain their victims’ cryptocurrency, resulting in a $25 million windfall.

From April to June of the previous year, the brothers reportedly laundered their ill-gotten gains through shell companies, ignoring requests from victims and Ethereum representatives to return the stolen cryptocurrency. They were arrested and are set to appear in federal courts in New York and Boston.

Deputy Attorney General Lisa Monaco emphasized the Justice Department’s commitment to combating fraud in cryptocurrency markets and supporting victims. Attorneys for the brothers have not been identified at this time.

This unprecedented case sheds light on the evolving landscape of cryptocurrency and the challenges posed by sophisticated criminal schemes within blockchain technology. Stay tuned for further updates on this developing story.