Two Brothers Arrested for Attacking Ethereum Blockchain via MEV

https://www.justice.gov/opa/pr/two-brothers-arrested-attacking-ethereum-blockchain-and-stealing-25m-cryptocurrency

by voidmain0001 • 2 years ago

17 15 2 years ago

alexnewman• 2 years ago

Code as law

Vespasian• 2 years ago

Since the hype is now solidly in the past even the few remaining true believers will begin to realize that "the law" must ultimately be backed by the capability to batter down doors and arrest people.

I wouldn't be surprised if the two defendants deluded themselves into believing that laws are not written in such a way as to allow the prosecution of old crimes in new clothes.

nativeit• 2 years ago

Only as much as the front-running MEV bots themselves, who are clearly engaging in the exact same behavior that's long been criminal on traditional financial markets. Why should these two be held to a different standard, all of a sudden?

UncleEntity• 2 years ago

As we allege, the defendants’ scheme calls the very integrity of the blockchain into question.

While I don't condone stealing magic numbers from people this seem like the real story here.

vitiral2• 2 years ago

If crypto isn't protected by its own cryptography and must instead be protected by the government then what in the f@*k is the point of crypto again?

6510• 2 years ago

To extract labor and resources from others without contract or exchange.

dgellow• 2 years ago

Speculation, scam and money laundering

vitiral2• 2 years ago

I mean I know that...

numtel• 2 years ago

So would they have been fine if they extracted MEV but didn't try to hide the income from the government? Seems like this is less about MEV and more about hiding their actions?

joshstrange• 2 years ago

So is crypto a currency or not? Is code law or not?

Honestly I think the only crime they should be charged with is tax evasion. Crypto bros really want to eat their cake and have it too...

naikrovek2• 2 years ago

Doesn’t have to be currency to have an associated value in currency. Theft is theft.

naikrovek2• 2 years ago

No one going to define “MEV”? The article doesn’t mention this term and this post doesn’t define it.

Writing 101… doesn’t matter if I can find out elsewhere. You can include a few words or you can have half your readers look it up. One is courtesy, the other is a writing/reporting disaster.

mikestew• 2 years ago

A pretty decent explanation of "Maximum Extractable Value" here:

https://www.coindesk.com/learn/what-is-mev-aka-maximal-extra...

chatmasta• 2 years ago

Dupe: https://news.ycombinator.com/item?id=40369522

cherryteastain• 2 years ago

How is this wire fraud? Participants of the ethereum blockchain agreed to the principles of operation of ethereum and that includes MEV/frontrunning.

Two Brothers Arrested for Attacking Ethereum Blockchain via MEV

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