The United States criminally charged the two brothers with defrauding $25 million worth of virtual money in 12 seconds

Sina Financial News U.S. federal prosecutors charged a pair of brothers who graduated from a prestigious university with computer-related majors in just 12 seconds to defraud about $25 million worth of virtual money. The U.S. Department of Justice said it was the first time such a case had been criminally charged in the United States. CBS reported with prosecutors as a source that the two targeted three traders in the Ethereum Blockchain in December 2022, making a fuss about the Blockchain verification process and using software code vulnerabilities to release “bait”. In April 2023, they “fraudulently gained access to pending private transactions” within 12 seconds as a way to “alter certain transactions and obtain the victim’s Crypto Assets,” totaling about $25 million. Later, in the face of one of the victims and representatives of Ethereum, the brothers refused to return the funds and Money Laundering through some shorter shell companies to hide their illegal gains.