12 seconds were enough for these two brothers to steal $25 million in crypto, which they have already laundered: be careful!

Aged 24 and 28, these two young brothers were accused of “ electronic fraud and money laundering » by the US Department of Justice. In April 2023, they stole $25 million in cryptocurrencies using an extremely sophisticated cyberhacking technique. All in 12 seconds.

We never stop hearing about cryptocurrencies. Either because they are breaking the price ceilings, like Bitcoin and its 66,000 dollars, or because they are involved in scams or theft of wallets via social networks like Telegram for example.

It is Ethereum (whose founder had his X.com account hacked, causing his followers to lose $690,000), which is making headlines this time, as reported BBC. Indeed, it is this cryptocurrency that two young American brothers chose to steal from their owners for an amount as dizzying as the time it took them to commit their theft. 25 million dollars passed from one hand to another in 12 short seconds.

Lightning Bolt Heist of $25 Million in Cryptocurrency in 12 Seconds

Two prodigy brothers who studied at the prestigious Massachusetts Institute of Technology (MIT) are accused of having carried out a heist worthy of the best heist films. Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, allegedly stole the astronomical sum of $25 million in Ethereum cryptocurrency in just 12 seconds.

According to the American authorities, this unprecedented “heist” was made possible thanks to the advanced skills of the two men in mathematics and computers. They allegedly exploited a flaw in the Ethereum transaction validation process to fraudulently access pending private transactions and modify them to their advantage.

This technologically sophisticated stratagem, described as an exploit by investigators, seriously calls into question the integrity of the blockchain, this public ledger supposed to record encrypted payments in an inviolable manner. The two brothers allegedly plotted for months before taking action in April 2023.

When confronted, they allegedly refused to return the stolen funds and took steps to launder and hide their illegal gains. Accused of electronic fraud and money laundering, they now face more than 20 years in prison each. A sentence commensurate with the damage caused to the victims robbed in record time.

Protect your cryptocurrencies from hackers

The spectacular heist of the Peraire-Bueno brothers highlighted the risks faced by holders of cryptocurrencies in the face of increasingly sophisticated cyberattacks. If blockchains are known to be secure, this lightning theft demonstrates that no system is safe from a flaw exploited by malicious and technically experienced hackers.

To best protect your digital assets, here are some essential security tips to follow. First, rigorously secure your private keys, the passwords used to access your cryptocurrency portfolio. Keep them in a safe physical location, away from prying eyes and damage.

Then, favor physical wallets disconnected from the Internet (“cold wallets”) rather than online wallets, which are more vulnerable to computer attacks. Likewise, be sure to always download cryptocurrency management applications and software from secure, official sources.

Furthermore, only use reputable exchange platforms and service providers with proven cybersecurity measures. Finally, stay vigilant and be wary of overly tempting offers or dubious messages encouraging you to share your identifiers. A little caution is better than a lean cryptocurrency wallet!

Source : BBC