In the U.S., a judge has denied a dismissal motion against two brothers accused of stealing $25 million through manipulations with MEV bots on the Ethereum blockchain.
Charges Against the Peraire-Bueno Brothers
Brothers Anton and James Peraire-Bueno, MIT graduates, are charged with crypto fraud for allegedly stealing 25 million dollars from ETH traders. Judge Jessica Clarke denied their request to dismiss the case, stating they failed to provide sufficient evidence for their arguments. "Motions to dismiss are each DENIED, except with respect to the receiving stolen property charge," wrote the judge in her ruling.
Methods of Operating MEV Bots
In April 2023, the brothers allegedly exploited their computer science expertise to manipulate MEV bots, stealing up to 25 million dollars in cryptocurrency in a short period. They devised a plan consisting of four steps: bait, block, search, and propagation, targeting 16 Ethereum validators using 529.5 ETH.
Next Steps in the Court Case
Now that the dismissal motion has been denied, the brothers are scheduled to go to trial in October 2025. The court issued its ruling in August 2024. In earlier proceedings, various charges were brought against them, including fraud and conspiracy to receive stolen property.
With the dismissal motion rejected, the trial for the Peraire-Bueno brothers will continue, and they will face serious allegations of misappropriating funds through blockchain technology manipulations.
