TapTechNews May 16th news, according to Reuters, federal prosecutors in the United States announced on Wednesday that they have arrested two brothers who had studied at the Massachusetts Institute of Technology, accused of using a new type of fraud to steal $25 million worth of cryptocurrency (approximately 180 million RMB). Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are charged with carrying out this ingenious scam. Manhattan federal prosecutors said this is the first criminal prosecution in the United States for such blockchain fraud. The two targeted three traders on the Ethereum blockchain in December 2022, manipulated the blockchain verification process, exploited software code vulnerabilities to release a bait. In April 2023, they gained access to private transactions in 12 seconds through fraudulent means, altered some transactions and obtained the victims' cryptocurrency, totaling approximately $25 million. Later, the brothers refused to return the funds to one of the victims and representatives of Ethereum, and laundered the illegal proceeds through some shell companies to hide them. The jury has charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to launder money. Anton Peraire-Bueno was arrested in Boston and James Peraire-Bueno was arrested in New York. According to prosecutors, both brothers had studied computer science and mathematics at the Massachusetts Institute of Technology in Cambridge, Massachusetts, where they acquired the skills and knowledge needed to carry out the fraud.
