US prosecutors are pushing back against efforts to introduce crypto policy arguments in the case of two brothers accused of exploiting Ethereum using maximum viable value (MEV).
In a Tuesday filing in the US district court for the Southern District of New York, US prosecutors countered with an amicus curiae—a brief filed by an interested party not directly involved in a case—that could persuade a jury to acquit Anton and James Peraire-Bueno. The two individuals are said to be behind a $25-million MeV exploit on the Ethereum blockchain in April 2023.
The letter addressed to the federal judge overseeing the case suggested that Center Center, the cryptocurrency advocacy organization behind the amicus brief, should direct concerns about digital asset policy through Congress rather than the courts.
“To allow an amicus brief of this type – which, arguing that the defendants should be released because of the implications to an industry or to internet users at large – would allow the defendants to argue for negligence and no statute,” the filing said. “The court’s sole concern (…) is whether a reasonable jury could find the defendants guilty based on the evidence adduced at trial. Larger questions of policy are inappropriately heard in this arena.”
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In response to the US government’s letter, lawyers are defending the Peraire-Bueno brothers said Coin’s brief center will provide a “unique perspective that will help the court” around prosecutors’ theory of the case.
“Because Ethereum users are engaged in economic activity (…), the government’s theory means that any strategy of trading or interacting with another user with which a user has an interaction or competitive relationship (ie, everyone else) that involves a deviation from the specifications of the blockchain protocol can add federal criminal liability,” the defense team said in a Wednesday filing, adding:
“The government has so far refused to even defend this sweeping theory (…) inconsistent with common sense and second circuit precedent.”
The case is drawing interest from industry
Opening arguments in the case against the two brothers began on October 15, more than a year ago After the pair was accused With conspiracy to commit wire fraud, money laundering and conspiracy to receive stolen property.
The criminal case centers on Peraire-Buenos’ use of MeV bots to allegedly remove $25 million worth of crypto in 2023.
An MEV attack occurs when a blockchain validator or trader manipulates the order of transactions within a block to gain an unfair profit.
According to the data mentioned In a July report by the European Securities and Markets Authority, MEV’s Ethereum-based revenues reached $963 million between December 2022 and January 2025, with revenue of approximately $417 million.
https://www.youtube.com/watch?v=rahu7cikfj0
Because of the potential impact that a guilty verdict and court rulings could have on others in the crypto industry, many industry leaders and advocacy organizations have been following the case. Cointelegraph reached out to a representative of the coin center for comment, but did not receive a response by the time of publication.
The US government claimed the brothers “duped their victims” by creating a “high-speed bait and switch” to steal crypto, while defense lawyers argued that the “victims here were sandwich bots,” with Peraire-Buenos simply using a trading strategy to acquire digital assets.
As of Wednesday, the trial has entered its 11th day and is expected to continue in November. If convicted, a judge could sentence the brothers to up to 20 years in prison for each count in the indictment.
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