Two siblings who studied at the Massachusetts Institute of Technology (MIT) are now accused of exploiting a vulnerability in the Ethereum blockchain. Allegedly, they managed to swindle $25 million within a mere 12 seconds, a caper described by prosecutors as unprecedented.

If found guilty, both individuals could face sentences exceeding 20 years 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 allegations arise from what prosecutors portray as a meticulously planned cyber heist conducted from their computers over several months.

They were apprehended on Tuesday in Boston and New York. Deputy Attorney General Lisa Monaco commented on the development, stating, "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 attended MIT, where Anton completed his Bachelor of Science in computer science and mathematics in February, while James obtained a Master of Science in aeronautics and astronautics in 2021. According to prosecutors, the brothers utilized advanced knowledge gained at the globally renowned university to manipulate Ethereum's transaction validation process.

Reportedly, they targeted Ethereum traders by illicitly accessing pending private transactions and altering them to obtain their victims' cryptocurrency. When confronted by an Ethereum representative, authorities allege that the brothers refused to return the funds and instead laundered and concealed their ill-gotten gains.