$25M MEV Exploit Heads to Court ⚖️

[cryptohog]

Opening arguments have begun in New York for Anton and James Peraire-Bueno, accused of using MEV bots in a $25M Ethereum exploit.

Prosecutors: The brothers ran a “high-speed bait and switch” to trick victims.

Defense: “They targeted sandwich bots, not people. This was trading strategy, not fraud.”

The pair reportedly paid $6M in taxes on profits before their arrest in May 2024.

Both face charges of wire fraud, money laundering, and receiving stolen property — up to 20 years per count if convicted.

[Rimon Khan]

Exciting to see major crypto events driving innovation dialogue across Europe.

[Abdul Khan]

A major case that could set precedent for how blockchain exploits are treated legally.