tldr; Two former MIT students, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, were arrested for stealing $25 million in cryptocurrency by exploiting the Ethereum blockchain. This novel scheme involved fraudulently accessing and altering pending transactions in just 12 seconds. Charged with wire fraud and money laundering, their actions have raised concerns about the integrity of the blockchain. The brothers utilized their computer science and math education from MIT to manipulate Ethereum’s transaction validation protocols, exploiting a vulnerability in the MEV-boost software used by network validators.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; Two former MIT students, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, were arrested for stealing $25 million in cryptocurrency by exploiting the Ethereum blockchain. This novel scheme involved fraudulently accessing and altering pending transactions in just 12 seconds. Charged with wire fraud and money laundering, their actions have raised concerns about the integrity of the blockchain. The brothers utilized their computer science and math education from MIT to manipulate Ethereum’s transaction validation protocols, exploiting a vulnerability in the MEV-boost software used by network validators.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.