The DOJ announced the arrest of Anton and James Pepaire-Bueno, accused of swiftly pilfering millions in cryptocurrency through the Ethereum blockchain in a mere 12 seconds.
The siblings purportedly employed the maximal extractable value (MEV) exploit to siphon funds from users, facing charges of conspiracy to commit wire fraud and money laundering.
According to a statement by Damian Williams, the U.S. Attorney for the Southern District of New York, it is alleged that the brothers, who underwent computer science and mathematics studies at a top-tier university, leveraged their expertise to tamper with and manipulate the protocols trusted by millions of Ethereum users worldwide.
According to Thomas Fattorusso, the Special Agent in Charge of IRS-CI, the brothers purportedly executed a manipulation of the Ethereum blockchain through deception, a move unprecedented in its nature. Accessing pending transactions, they allegedly modified the flow of digital currency, resulting in the theft of assets.
Thomas Fattorusso, the IRS-CI Special Agent in Charge, stated that regardless of the case’s complexity, efforts in financial criminal investigations are consistently led by their team.
Earlier this month, the DOJ appointed the consulting firm Forensic Risk Alliance (FRA) to oversee Binance’s operations for a three-year period.
FRA has been tasked with ensuring compliance with the agreement’s stipulations. It will be granted access to internal records, premises, and personnel in order to furnish the Ministry of Justice with updates on the exchange’s status.
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