Brothers Charged with $25 Million Cryptocurrency Hack
Brothers Anton and James Perre-Bueno have been charged in the United States for an innovative attack on the Ethereum blockchain, during which they managed to steal over $25 million in cryptocurrency. This case marks the first known hack of its kind, in which criminals gained access to pending transactions, making off with the loot in just 12 seconds.
Exploit Developed by Math and Computer Science Students
According to prosecutors, 24-year-old Anton and 28-year-old James were studying mathematics and computer science at a prestigious American university. Using their knowledge, they developed a complex exploit that undermined the integrity of the Ethereum blockchain. Their scheme allowed them to manipulate the transaction verification process and alter cryptocurrency destinations.
Charges and Investigation
After gaining access to pending operations, the brothers changed the cryptocurrency destination addresses and then took steps to conceal the origin of the stolen funds. These actions disrupted the principles of blockchain operation, catching the attention of law enforcement agencies. The brothers face charges of fraud and money laundering, with each of them facing up to 20 years in prison. The investigation leading to their arrest involved the Cyber Crimes Division of the Tax Service, the New York City Police Department, and the Border Customs Service.
Importance of Strengthening Security Measures
This case highlights the growing threat of sophisticated cybercrimes in the cryptocurrency sphere and serves as a warning of the need to strengthen security measures to protect blockchain protocols.
