Mistrial Declared in MIT Brothers’ $25 Million Ethereum Exploitation Case

A U.S. federal judge has declared a mistrial in the case of MIT-educated brothers Anton and James Peraire-Bueno, accused of orchestrating a sophisticated scheme to steal $25 million in cryptocurrency within just 12 seconds. U.S. District Judge Jessica Clarke in Manhattan dismissed the jury after it failed to reach a unanimous verdict on charges of wire fraud and money laundering. The mistrial was confirmed by Anton’s lawyer, William Fick of Fick & Marx, while the U.S. Attorney’s Office declined to comment.

Prosecutors alleged that the brothers exploited a vulnerability in MEV-boost software used by Ethereum network validators—individuals who verify transactions on the blockchain. Assistant U.S. Attorney Ryan Nees described the scheme as a “high-speed bait-and-switch,” claiming the pair manipulated transaction protocols to deceive trading bots and drain accounts. The prosecution maintained that the brothers had plotted for months to tamper with Ethereum’s validation process, compromising the integrity of the world’s second-largest blockchain.

Defense attorneys countered that the Peraire-Bueno brothers’ actions were part of a legitimate trading strategy rooted in their deep understanding of blockchain mechanics gained at MIT. Katherine Trefz, representing James Peraire-Bueno, argued that their approach was “novel but lawful,” aligning with the competitive nature of digital asset trading. The case, first filed in May 2024 before the Trump administration’s crypto-friendly policy shift, remains one of the most closely watched trials in blockchain enforcement.

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