New Delhi, Oct. 15 -- Two MIT-educated brothers, Anton (25) and James Peraire-Bueno (29), are on trial in Manhattan. They allegedly carried out a $25 million cryptocurrency heist on the Ethereum blockchain in April 2023.

Prosecutors say the brothers designed a "first-of-its-kind" fraud scheme that took months of planning. However, they executed it in just 12 seconds.

While prosecutors call it fraud and conspiracy, the defence claims it was a technological loophole, not theft.

They allegedly used "specialised skills developed during their education" at MIT for the heist, according to Business Insider. They also took advantage of their expertise in cryptocurrency trading, according to prosecutors. The brothers allegedly "exploited the ve...