Brothers Accused of $25M Crypto Theft Claim They Outwitted Bots
Two MIT-educated brothers are on trial for allegedly executing a $25 million cryptocurrency heist in just 12 seconds by exploiting vulnerabilities in the Ethereum blockchain, with their defense claiming no fraud occurred and that they merely outsmarted trading bots. Prosecutors argue they planned and executed a sophisticated scheme involving bait transactions, tampering with private transaction data, and hiding their identities through shell companies. The case raises questions about the legality of exploiting blockchain vulnerabilities and the regulation of crypto trading, with potential sentences of up to 20 years if convicted.