#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 $ETH 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.