Ferrer-Bueno Brothers Charged With Stealing $25 Million From Ethereum Network

IconCNT15 May, 2024

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Ferrer-Bueno Brothers Charged With Stealing $25 Million From Ethereum Network

The United States Department of Justice, Southern District of New York, has charged brothers Anton and James Ferrer-Bueno with exploiting a flaw in the Ethereum network to steal $25 million worth of cryptocurrency. The brothers were arrested on July 12th and appeared in court on July 13th. They have been charged with one count of conspiracy to commit wire fraud and one count of wire fraud. The indictment alleges that the brothers exploited a vulnerability in the Ethereum network’s consensus mechanism to steal the cryptocurrency. The brothers allegedly used this vulnerability to create fraudulent transactions that allowed them to withdraw funds from the network without authorization. The brothers have pleaded not guilty to the charges. They are scheduled to appear in court again on August 16th. Previously on May 15, 2024, the United States Department of Justice, Southern District of New York, announced on its official website, the indictment of brothers Anton and James Ferrer-Bueno for allegedly exploiting a vulnerability in the Ethereum network to steal $25 million worth of cryptocurrency. They were arrested the day before and are scheduled to appear in court this afternoon.

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