Current:Home > InvestBrothers accused of masterminding 12-second scheme to steal $25M in cryptocurrency -Edge Finance Strategies
Brothers accused of masterminding 12-second scheme to steal $25M in cryptocurrency
View
Date:2025-04-16 03:00:57
Two brothers who went to the Massachusetts Institute of Technology are facing fraud charges after prosecutors say the pair schemed to obtain $25 million in cryptocurrency in just 12 seconds.
Brothers Anton Peraire-Bueno and James Peraire-Bueno were charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, according to a press release from the U.S. Attorney's Office in the Southern District of New York.
Calling their alleged actions a “novel scheme by the defendants to exploit the very integrity of the Ethereum blockchain,” the Department of Justice said they were arrested Tuesday in Boston and New York.
Ethereum is a technological system used for digital money, global payments and applications, according to its website.
“The brothers, who studied computer science and math at one of the most prestigious universities in the world, allegedly used their specialized skills and education to tamper with and manipulate the protocols relied upon by millions of Ethereum users across the globe,” U.S. Attorney Damian Williams said in the news release.
This is the first time someone has been charged in a scheme of this magnitude, Williams said, again calling it “novel.”
The brothers went to the Massachusetts Institute of Technology, a spokesperson for the school confirmed to USA TODAY Thursday afternoon.
Anton earned a bachelor's degree in computer science and engineering in February.
James earned a bachelor's degree in math with computer science and aerospace engineering in June 2019, the school said. He also has a master's degree in aeronautics and astronautics, graduating in June 2021.
Lawyers for the pair did not immediately respond to USA TODAY’s requests for comment.
Brothers planned 12-second heist for months
The scheme was planned for months and completed within seconds, the DOJ said in a news release.
IRS-CI Special Agent in Charge Thomas Fattorusso said in the release that the brothers gained access to pending transactions and altered the transfer of electronic currency, “ultimately stealing $25 million in cryptocurrency from their victims.”
Sam Bankman-Fried:FTX founder sentenced to 25 years on crypto fraud charges
“IRS-CI New York’s Cyber Unit simply followed the money,” Fattorusso said. “Regardless of the complexity of the case, we continue to lead the effort in financial criminal investigations with cutting-edge technology and good-ole-fashioned investigative work, on and off the blockchain.”
According to an indictment, the brothers denied requests to return the stolen cryptocurrency.
Both Anton, 24, and James, 28, have been charged with conspiracy to commit wire fraud, wire fraud and conspiracy to commit money laundering.
Each charge comes with a maximum sentence of 20 years in prison.
Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Follow her on Twitter at@SaleenMartin or email her atsdmartin@usatoday.com.
veryGood! (121)
Related
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- US consumer sentiment ticks higher for second month but remains subdued
- Francis Ford Coppola sues Variety over story alleging ‘Megalopolis’ misconduct
- Jennie Garth Shares Why IVF Led to Breakup With Husband Dave Abrams
- A South Texas lawmaker’s 15
- Boeing factory workers go on strike after rejecting contract offer
- California man arrested after allegedly assaulting flight attendants after takeoff
- Jennie Garth Shares Why IVF Led to Breakup With Husband Dave Abrams
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Video shows dog leap out of car window to chase deer eating grass in New York: Watch
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Alaska high court lets man serving a 20-year sentence remain in US House race
- A man pleads guilty in a shooting outside then-US Rep. Zeldin’s New York home
- Gulf Coast residents still reeling from Hurricane Ida clean up mess left by Francine
- Senate begins final push to expand Social Security benefits for millions of people
- This Beloved Real Housewives of Miami Star Is Leaving the Show
- Studies on pigeon-guided missiles, swimming abilities of dead fish among Ig Nobles winners
- Influencer Suellen Carey Divorces Herself After Becoming Exhausted During One-Year Marriage
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
All the songs Gracie Abrams sings on her Secret of Us tour: Setlist
Jury awards $6M to family members of Black Lives Matter protester killed by a car on Seattle freeway
Jill Biden and the defense chief visit an Alabama base to highlight expanded military benefits
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Three people wounded in downtown Dallas shooting; police say suspect is unknown
Explosion at an Idaho gas station leaves two critically injured and others presumed dead
Award-winning author becomes a Barbie: How Isabel Allende landed 'in very good company'