25 million stolen in 12 seconds
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25 million stolen in 12 seconds. Details of another cryptocurrency fraud! The US Department of Justice has arrested two brothers for attacking the Ethereum blockchain. For reference: Ethereum is a decentralized blockchain platform that creates a peer-to-peer network for the secure execution and verification of special code called smart contracts. Smart contracts allow participants to enter into transactions directly with one another without a trusted central authority. Anton Per-Bueno, 24, and James, 28, are graduates of the prestigious Massachusetts Institute of Technology. Instead of using their knowledge of the latest IT technologies, the guys decided to fraudulently gain access to transactions in the system that were waiting for confirmation, then intercept them and receive the victims' cryptocurrency. The whole process took the tech geniuses only a few seconds. According to official information, they have been charged with conspiracy to commit...
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