MIT graduate brothers manipulated Ethereum MEV bot to steal $25 million in cryptocurrency, judge denies motion to dismiss

According to a report by Cointelegraph cited by Jinse Finance, U.S. District Judge Jessica Clarke has denied the motion to dismiss filed by brothers Anton and James Peraire-Bueno, ruling that their actions—manipulating Ethereum network MEV bots to steal $25 million in cryptocurrency—constitute wire fraud. The MIT graduate brothers exploited this unprecedented vulnerability in just 12 seconds, executing a four-step plan of "baiting, blocking, searching, and propagating," and set up 16 Ethereum validators to carry out the scheme. Although the brothers argued that their actions complied with the system’s code rules, the judge found that the government had sufficiently alleged their conduct met the standard for fraud. The case is currently in the pretrial motion stage and is expected to go to trial in October 2025.