The trial of two MIT-educated brothers accused of stealing $25 million value of Ethereum kicked off in Manhattan federal courtroom this week, with a prosecutor claiming that the alleged scheme questions “the very integrity of the blockchain” itself.
MIT Brothers Await Destiny For Purported Ethereum Scheme
Anton Peraire-Bueno, 25, and his brother James Peraire-Bueno, 29, “manipulated and tampered with the method and protocols by which transactions are validated and added to the Ethereum blockchain” to be able to achieve entry to victims’ digital property.
The Peraire-Bueno brothers, nonetheless, argue that the exploit wasn’t fraud in any respect and was not unlawful within the first place—elevating a basic query about the place the legality of the blockchain ends and felony manipulation begins.
OK – Crypto trial US v Peraire-Bueno to begin with opening arguments right this moment, Interior Metropolis Press is masking the case https://t.co/AVGKgt5Ul2 & https://t.co/rMC5TtBPFm towards a e book & will reside tweet thread beneath pic.twitter.com/DEEdKYYOu3
— Interior Metropolis Press (@innercitypress) October 15, 2025
In a Could 2024 assertion, former U.S. Lawyer Damian Williams for the Southern District of New York mentioned the case brings “the very integrity of the blockchain into query.”
“The brothers, who studied laptop science and math at one of the crucial prestigious universities on the planet, allegedly used their specialised expertise and schooling to tamper with and manipulate the protocols relied upon by thousands and thousands of Ethereum customers throughout the globe,” Williams mentioned. “And as soon as they put their plan into motion, their heist solely took 12 seconds to finish.”
Peraire-Bueno Brothers Strive To Block Court docket From Search Historical past
The Peraire-Bueno brothers have been charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit cash laundering final yr.
Each brothers face a most sentence of 20 years for every rely. Their trial started on Tuesday in Manhattan federal courtroom and will final by way of the primary week of November.
Earlier this yr, the brothers’ authorized staff filed a movement to forestall the prosecution from utilizing their Google search historical past as a part of the case, calling it “unfairly prejudicial.”
Nevertheless, prosecutors declare the alleged crypto scheme was “meticulously deliberate” and took “quite a few steps to hide their identities and lay the groundwork to hide the stolen proceeds.”
Because the trial intensifies, it’s unclear if the brothers will testify in their very own protection.
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