Brothers Charged For $25M Ethereum Heist In 12 Seconds

Brothers Charged For $25M Ethereum Heist In 12 Seconds

Published Wednesday 15th May 2024

Two brothers have been charged for orchestrating a sophisticated heist on the Ethereum blockchain, managing to steal a staggering $25 million in cryptocurrency in a mere 12 seconds. This incident sheds light on the vulnerabilities within blockchain technology, specifically in relation to Miner Extractable Value (MEV) attacks.

The indictment alleges that the brothers exploited Ethereum's blockchain by utilizing a MEV attack to siphon off the substantial sum of digital assets. MEV refers to the profit that miners can generate by reordering and censoring transactions within a block before it is added to the blockchain. In this case, the accused brothers were able to manipulate transactions in their favor, resulting in the swift theft of millions of dollars.

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