DOJ Indicts Two Brothers for $25M MEV Ethereum Heist in 12 Seconds, SDNY Announces

May 15, 2024, 04:51 PM

The U.S. Department of Justice has indicted Anton and James Peraire-Bueno for orchestrating a sophisticated scheme to exploit the Ethereum blockchain, resulting in the theft of $25 million in cryptocurrency. The brothers, who were trained in mathematics and had advanced abilities in crypto trading, executed the heist in just 12 seconds by exploiting a flaw in the MEV-Boost software used by some Ethereum validators. The charges include wire fraud and money laundering, with each count carrying a maximum penalty of 20 years in prison. This case marks the first criminal indictment related to MEV (Maximal Extractable Value) exploitation. The indictment was announced by U.S. Attorney Damian Williams of the Southern District of New York (SDNY).