DOJ Charges American Brothers with Cryptocurrency Fraud

Former MIT students allegedly accessed $25 million from Ethereum transactions.

Federal prosecutors arrested two brothers this past week, charging them with attempting to commit wire fraud and money laundering to steal $25 million worth of Ethereum, a popular form of cryptocurrency. This is the case in which U.S. criminal charges have been brought against such fraud.

The two brothers, 24-year-old Anton Peraire-Bueno and 28-year-old James Peraire-Bueno, are former students of the Massachusetts Institute of Technology (MIT), where they studied computer science and math. They used their skills to gain fraudulent access to pending transactions of Ethereum, altering the movement of the cryptocurrency and allegedly stealing $25 million from traders in just 12 seconds.

“As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said, calling the case “novel” in its conspiracy.

As the Lord Leads, Pray with Us…

  • For U.S. investigators as they seek to bring cyber criminals to justice.
  • For DOJ officials as they bring cases against perpetrators of financial fraud and scams.

Sources: Reuters, Axios


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