Heist $25 million in digital currency in just 12 seconds

The two Peraire-Bueno brothers, who studied computer science and mathematics at the Massachusetts Institute of Technology, attacked and stole $25 million in Ethereum digital currency from the platform in just 12 seconds.

Heist $25 million in digital currency in just 12 seconds Picture 1

According to authorities, two brothers Anton Peraire-Bueno, 24 years old, and James Peraire-Bueno, 28 years old, carried out this sophisticated theft in April 2023. The brothers spent months planning their plot. They exploited a vulnerability in the MEV-boost software - which is used by most Ethereum network validators, manipulating the way transactions are managed and validated on the Ethereum platform.

After stealing $25 million, the two brothers laundered and hid this digital money.

James Peraire-Bueno was arrested in New York, while Anton Peraire-Bueno was arrested in Boston. The two brothers were charged with telecommunication fraud and money laundering.

Federal prosecutors in the district of Manhattan (New York) confirmed that this was a completely new and extremely sophisticated theft. This is also the first time this action has been criminally charged in the US.

The incident calls into question the integrity of Ethereum, and suggests the need for strict security measures to combat mining and fraud in the digital currency sector.

Ethereum

Kareem Winters

Update 17 May 2024

You should read it

May be interested

14 cryptocurrencies, the most popular digital currency today
virtual money, or digital money, is an invention of the internet era. basically, they come about when someone comes up with thinking why we don't create a money system that is not bound by geography, like on the internet.
Convert exchange rates on Android
converting foreign currency into vietnamese currency is a necessary need, especially when traveling, studying abroad or exchanging goods and currencies. while search engines like bing or google let you know the results easily, the xe currency app for android does even better.
The world only has 20% Bitcoin to 'dig'
unlike the other coins, bitcoin is limited in number of exploits, we can only dig a total of 21 million bitcoin. meanwhile, more than 16.8 million bitcoin has been exploited, equivalent to 80% of this amount, the total amount of bitcoin that can be mined is only 20%.
Instructions on how to play the game '22 Seconds' - an 'addictive' game from the Ballz game maker
22 seconds - a new game application that is causing fever on ios and android operating systems
Who is the 'father' of Pi Network?
the three core faces of the pi development team are dr. nicolas kokkalis - technical lead, dr. chengdiao fan - product owner and vincent mcphillip - community leader pi network.
Cryptocurrency exchange BitMart has nearly 200 million USD stolen by hackers
cryptocurrency exchange bitmart has just revealed that it has just experienced a large-scale hack involving stolen private keys. as a result, hackers stole more than 150 million usd worth of virtual money from this exchange.
The currency converter application on Android
regularly interested in foreign exchange rates, buying and selling daily, the addition of a currency conversion application on the phone is really necessary. with only a small application, you will easily refer to the exchange rate and make foreign currency exchange for vietnamese currency anytime, anywhere.
IOTA virtual currency is not known to 90% price increase after cooperating with big man
iota's market value has increased by $ 12 billion after announcing its partnership with microsoft, samsung and many large companies, launching the iot data market.
How to Create a Currency Converter With Microsoft Excel
this wikihow teaches you how to create a currency conversion calculator using microsoft excel. if you simply want to convert one currency value to another currency's value, you can use excel's multiplication formula to apply the conversion...
Cryptocurrency platform was attacked and exploited, more than 300 million USD disappeared without a trace
the wormhole platform has offered to pay the hacker 10 million to recover the stolen assets, but it seems unsuccessful.

Heist $25 million in digital currency in just 12 seconds

You should read it

May be interested

Tech info