The $25 million fraud case profiting from MEV attacks ended in a dismissal due to disputes over legal applicability

Two brothers, Anton Peraire-Bueno and James Peraire-Bueno, graduates of MIT, are accused of orchestrating a $25 million "fraud" on Ethereum, profiting $25 million in just 12 seconds through an MEV-Boost attack.

The four-week trial ended in a mistrial in Manhattan federal court due to a deadlocked jury. The jury indicated that they could not reach a consensus on how to apply existing laws to the case. Peter Van Valkenburgh, executive director of the cryptocurrency advocacy organization Coin Center, had submitted an amicus brief in support of the defendants and stated after the trial that the prosecutors' charges were "a massive overreach." Despite the trial ending in a mistrial, the brothers still face three charges: conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, and prosecutors may choose to dismiss the case or retry it.