Two American brothers were arrested for stealing $25 million in cryptocurrency in just 12 seconds.
Two brothers Anton Peraire-Bueno (24 years old) and James Peraire-Bueno (28 years old) were arrested on charges of wire fraud and money laundering. It is known that both studied at the world's most prestigious Massachusetts Institute of Technology (MIT). It is worth noting that they stole $25 million in Ethereum cryptocurrency in just 12 seconds, which is considered the first cryptocurrency theft of its kind.
According to the indictment, these two brothers took advantage of their highly specialized knowledge of mathematics and computer science, combined with sophisticated programming skills to exploit vulnerabilities in the digital currency's transaction confirmation system. Ethereum.
25 million USD in Ethereum cryptocurrency was "stolen" in just 12 seconds.
They commit the theft by forging pending individual transactions, then altering the transaction information to steal the victim's cryptocurrency. This entire process is called "The Exploit" and only takes a few seconds to do.
The incident was discovered after Ethereum representatives noticed unusual activity in the system and launched an investigation. When confronted, the Peraire-Bueno brothers refused to return the money and took steps to conceal their crime.
The behavior of both has caused great damage to cryptocurrency investors and raised questions about the safety of the blockchain system. Currently, the Peraire-Bueno brothers are facing criminal charges and could face a sentence of more than 20 years in prison if convicted.
This incident is a wake-up call to cryptocurrency investors about the potential risks in this sector and encourages them to take security measures to protect their assets.
