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Reading: Novel crypto theft involved old-time bait and switch, US says at close of trial | MLex | Specialist news and analysis on legal risk and regulation
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Novel crypto theft involved old-time bait and switch, US says at close of trial | MLex | Specialist news and analysis on legal risk and regulation

Last updated: November 5, 2025 8:30 am
Published: 6 months ago
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By Samuel Rubenfeld ( November 5, 2025, 02:13 GMT | Insight) — Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, prosecutors said Tuesday at the close of their trial. Defense lawyers for each brother countered by saying that finding the vulnerability and using it to make money was a legitimate cryptocurrency trading strategy in a highly competitive environment.Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, prosecutors said Tuesday at the close of their trial….

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