Arrests Made
Two brothers, Anton and James Pepaire-Bueno, have been arrested for allegedly stealing $25 million worth of cryptocurrency in just 12 seconds. The brothers, who attended the prestigious Massachusetts Institute of Technology (MIT), are accused of using their expertise in mathematics and computer science to manipulate the Ethereum blockchain.
Innovative Exploit
The brothers allegedly created a novel exploit that allowed them to access pending transactions and alter the movement of crypto assets. They then concealed their identities and the stolen funds using sophisticated techniques.
Charges and Penalties
The brothers have been charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. If convicted, they could face up to 20 years in prison.
Investigation and Commentary
Special Agent in Charge Thomas Fattorusso of the IRS Criminal Investigation (IRS-CI) New York Field Office stated that the brothers’ alleged manipulation of the Ethereum blockchain was unprecedented. He emphasized the IRS-CI’s commitment to using advanced technology and traditional investigative methods to combat financial crimes.
