Two siblings who graduated from the Massachusetts Institute of Technology (MIT) are currently accused of exploiting a flaw in the Ethereum blockchain. Allegedly, they managed to obtain $25 million within just 12 seconds, in what prosecutors are calling a unique incident. If found guilty, they could face over two decades in prison.

Anton Peraire-Bueno, aged 24, and James Peraire-Bueno, aged 28, are facing federal charges in Manhattan for fraud and money laundering. The accusations revolve around a carefully planned cybercrime that prosecutors claim was carried out over several months using their computers. They were apprehended on Tuesday in Boston and New York. Deputy Attorney General Lisa Monaco stated, "The Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds."

Both siblings graduated from MIT, with Anton completing his Bachelor of Science in computer science and mathematics in February, while James earned a Master of Science in aeronautics and astronautics in 2021. Prosecutors allege that their advanced knowledge, gained from their education at a prestigious institution, enabled them to manipulate Ethereum's transaction validation process. They purportedly targeted Ethereum traders by illicitly accessing pending private transactions and altering them to acquire their victims’ cryptocurrency. When confronted by an Ethereum representative, authorities claim the brothers declined to return the funds and instead laundered and concealed their illegal gains.