A federal judge has set the trial date for Anton and James Peraire-Bueno, two brothers accused of masterminding a $25 million cryptocurrency heist. The trial is scheduled to begin on October 14, 2025, in the United States District Court for the Southern District of New York. The brothers are facing serious charges, including conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering.
The Peraire-Bueno brothers are accused of orchestrating an intricate plan to steal $25 million in cryptocurrency by exploiting Ethereum’s maximal extractable value (MEV) bots. According to the Justice Department, the theft, which unfolded in just 12 seconds, has sparked significant concerns regarding the security and reliability of blockchain technology.
The brothers reportedly manipulated the Ethereum blockchain by conducting a series of test transactions, which allowed them to intercept and reroute pending transactions from a proposed block into their own accounts. After the heist, they allegedly concealed the stolen funds through a network of shell companies and foreign cryptocurrency exchanges, making it challenging for authorities to track and recover the assets.
After their arrest in May, U.S. authorities released Anton and James on $250,000 bonds each, imposing additional travel restrictions while they await trial. U.S. authorities have accused the brothers of refusing to return the stolen funds and using various tactics to hide the assets from detection.
A conviction could land the brothers in prison for 20 years for each charge.
This case highlights ongoing challenges within the cryptocurrency industry, where high-profile figures have faced legal consequences for fraud and misuse of digital assets. The outcome of the trial could establish a precedent for the prosecution of such cases and potentially shape future regulations related to blockchain technology and cryptocurrency transactions.
