A jury hearing the case of two men accused of orchestrating a significant Ethereum blockchain exploit has submitted detailed inquiries to the presiding judge, signaling a meticulous examination of the case’s key elements. The deliberations follow three weeks of testimony and evidence presentation, during which prosecutors and defense attorneys presented contrasting narratives.
The defendants, Anton and James Peraire-Bueno, are charged with leveraging automated trading bots — specifically, maximum extractable value or MEV bots — to manipulate the transaction ordering process on the Ethereum network. Prosecutors allege their actions resulted in approximately $25 million in illicit gains within a brief 12-second window. This alleged scheme involved the brothers disguising their activities as legitimate validation efforts, with prosecutors claiming they engaged in deceptive practices designed to mislead users.
During deliberations that began Thursday, jurors have sought clarification from the judge on definitions related to the charges, including “good faith” and “false representation.” Such questions likely pertain to the prosecution’s assertion that the accused falsely portrayed themselves as honest validators, thereby deceiving the network participants. A courtroom summary indicates the judge explained that a pretense involves actions aimed at creating false impressions, emphasizing the fraudulent nature of the alleged conduct.
The case underscores the vulnerabilities within blockchain transaction processes, with MEV attacks representing a tactic used by traders or validators to profit from transaction ordering. The involved scheme, planned over several months, capitalized on this exploit, executing trades in a fraction of a second to maximize profit.
As deliberations continue without imminent resolution, the jury also requested a transcript of a recent expert testimony regarding Ethereum trading practices. These proceedings may set a precedent for future regulatory and legal scrutiny of blockchain-based financial activities. If convicted on charges of conspiracy, wire fraud, and money laundering, the defendants could face significant penalties, including lengthy prison sentences.
