Bueno Brothers Face Charges for $25 Million Ethereum Blockchain Heist
Summary:
The US Department of Justice has indicted Anton Peraire-Bueno and James Pepaire-Bueno, alleging they stole $25 million in cryptocurrency via a scheme that compromised the integrity of the Ethereum blockchain. The brothers reportedly obtained the funds in roughly 12 seconds, refused to return the stolen assets, and concealed their loot using shell companies and foreign crypto exchanges. Each could face up to 20 years in prison per charge if convicted.
The United States Department of Justice has revealed charges against two individuals, alleging their involvement in a $25 million cryptocurrency theft. The indictment accuses the thieves of compromising the very integrity of the Ethereum blockchain. On May 15, the Justice Department prosecuted Anton Peraire-Bueno and James Pepaire-Bueno for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The department claims the brothers deceitfully managed to acquire $25 million in cryptocurrency in just about 12 seconds, employing a manipulative scheme that casts the dependability of blockchain into doubt. "The brothers are charged with executing an unprecedented manipulation of the Ethereum blockchain where they falsely accessed pending transactions, tampered with the digital currency flow, and ultimately embezzled $25 million in cryptocurrency from the victims," commented Thomas Fattorusso, a senior agent with the IRS Criminal Investigation’s New York Field Office. Authorities state that the accused brothers dismissed demands to repay the stolen assets and concealed their illicit earnings through the use of bogus companies and offshore crypto exchanges, distributing them into multiple wallets. If found guilty, they may face a jail term of up to 20 years for each charge. This is an ongoing news story, and updates will be provided as and when they come in.
Published At
5/15/2024 7:52:05 PM
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