Anton Peraire-Bueno, 24, of Boston, and James Peraire-Bueno, 28, of New York, were charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, per a U.S. DOJ release. Ethereum is a blockchain that allows people to carry out activities such as trading crypto, building decentralised apps, minting NFTs, and executing smart contracts. However, there are also many crypto tokens that are not ETH but use Ethereum’s blockchain infrastructure in order to function. Per court filings, the Peraire-Bueno brothers used identity concealing layers to target certain crypto traders and manipulate the way pending transactions were processed, in order to steal the assets. If convicted, the brothers each face a maximum penalty of 20 years in prison for each count, according to the U.S. DOJ.

Source: The Hindu May 17, 2024 18:52 UTC