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.

Crypto News & Headlines

PEPE Coin Soars Over 80% In A Week, Hits New All-Time High


Pepe coin hit a new all-time high of $0.00001559 following an 80% surge in the past week, driven by increasing interest and consistent trading volume.

Trending on 27th May 2024 09:26 AM

Normie Meme Coin Crashes 99% After Major Exploit & Hacker Attack


Normie, a meme token on the BASE blockchain, experienced a severe exploit, causing its value to plummet by over 99% from $40 million to less than $200

Trending on 27th May 2024 09:01 AM

Ethereum Price Boosted By ETF Hopes, Nears $4k


Ethereum's price surged above $3,850 due to bullish investors anticipating the launch of spot ETH ETFs, driving a 5% increase in the last 24 hours, wi

Trending on 27th May 2024 08:25 AM

Michael Saylor: Ethereum ETF Approval Boosts Bitcoin


Michael Saylor, MicroStrategy's founder, views the U.S. SEC's approval of spot Ethereum ETFs as beneficial for Bitcoin, predicting it will drive insti

Trending on 27th May 2024 01:01 AM

Uniswap (UNI) Price Surges Over 15% Due To New Proposals And Market Activity


Despite market consolidation, Uniswap's token UNI surged over 17%, breaking $10, driven by Ethereum ecosystem developments and ongoing legal battles w

Trending on 26th May 2024 12:02 AM