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Justice Department Charges American Brothers with Cryptocurrency Fraud – The Presidential Prayer Team
Former MIT students reportedly had access to $25 million via Ethereum transactions.
Federal prosecutors arrested two brothers last week, accusing them of attempting to commit wire fraud and money laundering to steal $25 million worth of Ethereum, a popular form of cryptocurrency. This is the case where the United States was accused of such fraud.
The two brothers, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are former students of the Massachusetts Institute of Technology (MIT), where they studied computer science and mathematics. They used their skills to gain fraudulent access to pending Ethereum transactions, altering the cryptocurrency’s movement and allegedly stealing $25 million from traders in just 12 seconds.
“As we allege, the defendants’ scheme calls into question the very integrity of the blockchain,” US Attorney Damian Williams said, calling the case “novel” in his conspiracy.
As the Lord leads, pray with us…
- For U.S. investigators trying to bring cybercriminals to justice.
- For Department of Justice officials who bring cases against perpetrators of financial fraud and scams.
Sources: Reuters, Axios