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US charges 2 brothers with stealing $25 million in cryptocurrency 'in 12 seconds'
The US Department of Justice charged two brothers Wednesday with stealing $25 million in cryptocurrency “in 12 seconds” through a sophisticated and unprecedented hack of the Ethereum blockchain.
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The suspects are Anton and James Peraire Bueno, 24 and 28, who were arrested Tuesday, studied computer science and mathematics at a "prestigious university" and used their skills to "exploit the integrity of the Ethereum blockchain," according to a statement from the U.S. Justice Department.
The brothers, who allegedly planned the hack over several months, altered the process by which users' private transactions are validated and added to the Ethereum blockchain, a novel technique that had never before been the subject of a criminal charge, the Justice Department said.
Damian Williams, the U.S. Attorney for the Southern District of New York, said the defendants' actions "compromised the integrity of the blockchain itself."
After fraudulently obtaining the money, the brothers refused "requests to return it" and took steps to conceal their identities and hide the proceeds through shell companies and multiple foreign cryptocurrency exchanges, the U.S. Justice Department said.
The Peraire Buenos, who were arrested in Boston and New York, each face up to 20 years in prison on three counts — wire fraud, computer fraud and money laundering, according to the news release.
Read Also: FTX platform expects to recover assets to pay creditors (Portuguese version)
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