Two Brothers Arrested For Allegedly Exploiting Ethereum Blockchain To Steal $25 Million

According to BlockBeats, Anton Perell-Bueno and James Perell-Bueno, two brothers, have been arrested on suspicion of exploiting a vulnerability in the Ethereum blockchain to steal approximately $25 million in cryptocurrency within about 12 seconds. The indictment alleges that the suspects, who were studying mathematics and computer science at a renowned university in the United States, used their specialized knowledge to manipulate and alter the transaction verification and addition protocols of the Ethereum blockchain, thereby fraudulently obtaining the victims' cryptocurrency. This is the first time such an attack has occurred in history. The two are accused of conspiring to commit telecommunications fraud, telecommunications fraud, and conspiracy to launder money, each of which carries a maximum sentence of 20 years in prison. Despite the defendants' months-long planning and execution of this complex and unprecedented fraudulent act in a matter of seconds, they still could not escape the law, said the Deputy Attorney General of the United States, Monaco. This case serves as a stark reminder of the potential vulnerabilities in the blockchain technology and the need for robust security measures to protect users' assets. It also highlights the importance of legal oversight in the rapidly evolving world of cryptocurrency.