Two brothers from MIT are set to stand trial for allegedly defrauding investors of 25 million USD tied to the Ethereum blockchain. A judge ruled that their method qualifies as wire fraud.
A federal judge denied their motion to dismiss the charges, upholding that the brothers’ actions during the scheme still subject them to fraud statutes despite their defense claims.
The trial date is set for October 2025, where they will face serious charges including wire fraud and conspiracy, amid discussions of their alleged exploitation of MEV bots.
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