A federal judge has set the trial date for two brothers accused of orchestrating a groundbreaking crypto theft using blockchain technology. The trial, scheduled for October 14, 2025, will address charges of wire fraud and money laundering against Anton and James Peraire-Bueno.

“First of Its Kind” Theft Exploiting crypto Network

The Peraire-Bueno brothers allegedly utilized a scheme involving maximal extractable value (MEV) bots to execute the crypto theft in a mere 12 seconds. With their expertise in mathematics and computer science, they manipulated ethereum blockchain protocols to intercept and modify transactions, resulting in the theft of roughly $25 million in cryptocurrency.

The innovative nature of their crypto theft scheme, referred to as the first of its kind, was meticulously planned over several months. By analyzing their victims’ trading patterns, the brothers devised a method to access and redirect pending transactions on the ethereum blockchain.

IRS Cyber Investigations Unit Investigates the Case

Despite their efforts to conceal their activities by establishing shell companies, utilizing multiple private crypto addresses, and transacting through foreign exchanges with lax identification procedures, the IRS Criminal Investigation (IRS-CI) New York’s Cyber Unit successfully traced the stolen cryptocurrency back to the brothers.

Investigators also uncovered online searches conducted by the brothers related to carrying out the exploit, concealing their involvement, and evading extradition. Special Agent in Charge Thomas Fattorusso emphasized the IRS-CI New York’s Cyber Unit’s ability to follow the money in such cases, showcasing their proficiency in financial criminal investigations.

In light of the charges of conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, the Peraire-Bueno brothers could potentially face up to 20 years in prison for each offense if found guilty.