#CryptoScamSurge A U.S. federal judge, Jessica Clarke, has rejected a request from MIT graduates Anton and James Peraire-Bueno to dismiss a $25 million cryptocurrency fraud case against them. The brothers are accused of taking advantage of a vulnerability in the Ethereum network in May 2024. Prosecutors say they deployed 16 validator nodes and over 529 ETH to carry out a complex four-step arbitrage strategy, aiming to intercept profits from MEV bots—all within a span of just 12 seconds.

Although the defence argued that the Ethereum system’s design permitted their actions, the judge ruled that what they did still qualified as wire fraud. The case is moving forward, with a trial scheduled for October 2025. The Peraire-Bueno brothers remain charged with wire fraud and conspiracy to commit money laundering.