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Brothers Accused of Cryptocurrency Theft

Washington — A pair of brothers from New York and Boston were taken into federal custody Tuesday, accused by prosecutors of devising a novel criminal scheme to steal about $25 million in cryptocurrency from a commonly used blockchain, according to a newly unsealed indictment. Anton and James Peraire-Bueno were charged with wire fraud and conspiracy to commit money laundering.

The brothers, both with backgrounds in math and computer science from prestigious universities, are alleged to have spent months plotting their theft within the Ethereum blockchain. Their unique skills allowed them to carry out the first-of-its-kind endeavor in just seconds. James Peraire-Bueno, a recent graduate from MIT, and Anton Peraire-Bueno, who earned a B.S. in computer science and engineering, are accused of establishing shell companies to hide their profits.

The alleged scheme began in December 2022, with the brothers targeting specific victim traders on the digital Ethereum platform. By exploiting the validators on the blockchain, they fraudulently gained access to private transactions and altered them to obtain cryptocurrency.

The quick execution of their plot allegedly resulted in $25 million in stolen funds, which the brothers laundered through shell companies between April and June of the following year. Despite requests from victims and authorities, they reportedly refused to return the stolen cryptocurrency.

With their arrest, the brothers are set to appear in federal courts in New York and Boston, facing charges related to cryptocurrency fraud. Deputy Attorney General Lisa Monaco emphasized the Justice Department’s commitment to rooting out fraud in evolving cryptocurrency markets.

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