U.S. Prosecutors Seek Retrial of Brothers in $25M Ethereum Fraud Case

Federal prosecutors will retry MIT graduates James and Anton Peraire-Bueno in February 2026 over alleged Ethereum sandwich attack-related theft after the first jury failed to reach a verdict.

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Summary

U.S. federal prosecutors have scheduled a retrial for MIT graduates James and Anton Peraire-Bueno in February 2026 over allegations they stole $25 million via Ethereum sandwich attacks. The case follows a mistrial in which a jury deliberated for three days without reaching a verdict. The defense argued their actions constituted legitimate market strategy. The accusations involve manipulating transaction sequencing on the Ethereum network to profit illicitly from traders.

Terms & Concepts
  • Ethereum: A decentralized blockchain platform that supports smart contracts and decentralized applications.
  • Sandwich attack: A type of market manipulation on blockchain networks where an attacker places transactions before and after a target transaction to exploit price movements.
  • Cryptocurrency fraud: Illegal activities involving theft, deception, or manipulation within cryptocurrency markets.