Theft of crypto assets: new charges
Date: 2024-05-17 Author: Henry Casey Categories: IN WORLD
The US Department of Justice has charged two American citizens with gross fraud and conspiracy to commit money laundering. Authorities say the suspects used innovative methods to remove $25 million worth of crypto assets from the Ethereum network in just 12 seconds.
Cryptocurrency theft case
The operation involved two brothers, Anton and James Peraire-Bueno, who allegedly focused on traders who used MEV bots to trade cryptocurrencies. Using sandwich attack tactics, the attackers were able to carry out the theft in a matter of seconds.
Preparation and execution of the attack
Behind the attack on traders was a lengthy preparation, including the study of exchanges with limited identification procedures, the mechanics of MEV bots and methods of money laundering. The brothers also analyzed the possible consequences of the authorities' research, as well as the specifics of criminal liability in the field of digital assets.
Law enforcement response
U.S. Attorney for the Southern District of New York Damian Williams noted the innovative nature of the crime and emphasized the prosecutor's relentless commitment to prosecuting financial offenders. According to US law, the brothers face up to 20 years in prison for each charge.
This case is another example of how a variety of fraud methods are used in the cryptocurrency space and how authorities respond to such crimes, emphasizing the importance of complying with laws and protecting financial integrity.
