MIT students stole $25M in seconds by exploiting ETH blockchain bug, DOJ says

Enlarge (credit: Oleksandr Shatyrov | iStock Editorial / Getty Images Plus)

Within approximately 12 seconds, two highly educated brothers allegedly stole $25 million by tampering with the ethereum blockchain in a never-before-seen cryptocurrency scheme, according to an indictment that the US Department of Justice unsealed Wednesday.

In a DOJ press release, US Attorney Damian Williams said the scheme was so sophisticated that it “calls the very integrity of the blockchain into question.”

“The brothers, who studied computer science and math at one of the most prestigious universities in the world, allegedly used their specialized skills and education to tamper with and manipulate the protocols relied upon by millions of ethereum users across the globe,” Williams said. “And once they put their plan into action, their heist only took 12 seconds to complete.”