Current:Home > NewsMIT-educated brothers accused of stealing $25 million in cryptocurrency in 12 seconds in Ethereum blockchain scheme -Blueprint Wealth Network
MIT-educated brothers accused of stealing $25 million in cryptocurrency in 12 seconds in Ethereum blockchain scheme
View
Date:2025-04-21 13:52:50
Washington — A pair of brothers from New York and Boston were taken into federal custody Tuesday, accused by prosecutors of devising a novel criminal scheme to steal about $25 million in cryptocurrency from a commonly used blockchain, according to a newly unsealed indictment.
Anton and James Peraire-Bueno were charged with wire fraud and conspiracy to commit money laundering. Investigators accused them of spending months plotting their theft within the Ethereum blockchain, baiting their victims and establishing shell companies to hide their illicit profits.
According to charging documents, the pair studied math and computer science "at one of the most prestigious universities in the country," which prosecutors said afforded them a unique set of skills that allowed them to carry out the first-of-its-kind endeavor in a matter of seconds. James Peraire-Bueno is listed as a 2021 graduate of the Massachusetts Institute of Technology, and the MIT Registrar's Office confirmed that Anton Peraire-Bueno earned a B.S. in computer science and engineering in February 2024, and James Peraire-Bueno earned a B.S. in mathematics, computer science and aerospace engineering in June 2019, as well as a M.S. in aeronautics and astronautics in June 2021.
The brothers allegedly started laying the groundwork in December 2022, engaging in what investigators called a "baiting" operation that targeted three specific victim traders on the digital Ethereum platform. They are specifically accused of exploiting the "validators" on the blockchain, vital components of the integrity and security of transactions.
"In doing so, they fraudulently gained access to pending private transactions and used that access to alter certain transactions and obtain their victims' cryptocurrency," prosecutors alleged in court documents.
Investigators said the defendants' plot took months to plan but just 12 seconds to execute, allegedly raking in approximately $25 million from their unwitting victims.
From April and June of last year, Peraire-Buenos are accused of laundering their money through shell companies. Prosecutors said the duo even rejected repeated requests from a victim, the victim's attorney and an Ethereum representative to return the cryptocurrency.
They were arrested on Tuesday and are expected to make their initial appearances in New York and Boston federal courts on Wednesday.
"As cryptocurrency markets continue to evolve, the Justice Department will continue to root out fraud, support victims, and restore confidence to these markets," Deputy Attorney General Lisa Monaco said in a statement.
Attorneys for the brothers could not be immediately identified.
- In:
- Technology
- MIT
- Ethereum
- Cryptocurrency
- United States Department of Justice
Robert Legare is a CBS News multiplatform reporter and producer covering the Justice Department, federal courts and investigations. He was previously an associate producer for the "CBS Evening News with Norah O'Donnell."
veryGood! (71696)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- LeBron James’ rise to global basketball star to be displayed in museum in hometown of Akron, Ohio
- Conservative Muslims protest Coldplay’s planned concert in Indonesia over the band’s LGBTQ+ support
- Oil companies attending climate talks have minimal green energy transition plans, AP analysis finds
- Sonya Massey's father decries possible release of former deputy charged with her death
- School vaccination exemptions now highest on record among kindergartners, CDC reports
- Former Indiana sheriff accused of having employees perform personal chores charged with theft
- Judge rules Willow oil project in Alaska's Arctic can proceed
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Iranian-born Norwegian man is charged over deadly Oslo Pride attack in 2022
Ranking
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Hunter Biden sues former Overstock CEO Patrick Byrne for defamation
- Ole Miss, Kiffin seek dismissal of lawsuit filed by Rebels football player
- It's time to get realistic about cleaning up piles of trash from the ocean, study argues
- Could your smelly farts help science?
- France’s Macron says melting glaciers are ‘an unprecedented challenge for humanity’
- Virginia school system says ongoing claim of sex assaults on school grounds was fabricated
- From loons to a Lab.: Minnesota's state flag submissions do not disappoint
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Mississippi attorney general asks state Supreme Court to set execution dates for 2 prisoners
Federal judge declines to push back Trump’s classified documents trial but postpones other deadlines
100,000 marijuana convictions expunged in Missouri, year after recreational use legalized
Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Wendy's is giving away free chicken nuggets every Wednesday for the rest of the year
High-tech 3D image shows doomed WWII Japanese subs 2,600 feet underwater off Hawaii
Louisiana governor announces access to paid parental leave for state employees