Overview
- A Manhattan jury composed entirely of college graduates has been sworn in, with opening statements kicking off a trial expected to run into early November.
- Anton and James Peraire-Bueno are charged with conspiracy, wire fraud, and money laundering, each carrying potential sentences of up to 20 years per count.
- The government alleges the brothers spent months planning a maximal extractable value exploit that diverted $25 million in a rapid 12-second sequence and left traders with illiquid tokens.
- Prosecutors cite Google searches such as "how to wash crypto" and a network of shell entities and foreign exchanges as evidence of intent and concealment.
- The defense contends there was no fraud, arguing the brothers outmaneuvered automated trading bots in an unregulated market, though the judge has limited some defense arguments and expert testimony.