Two Brothers Charged with $25M Ethereum MEV Exploit Scandal

By: Eliza Bennet

Two brothers have been implicated in a major Ethereum exploit, incurring fraud charges related to MEV (maximal extractable value). They are accused of manipulating this controversial practice in a mere 12-second attack which allegedly led to them illicitly acquiring $25 million.

Ethereum is a global, open-source platform for decentralized applications allowing users to write code that controls digital value. MEV is a measure of the profit a miner can make through their ability to arbitrarily include, exclude, or re-order transactions within the blocks they produce. This event highlights the novel challenges and vulnerabilities within the rapidly evolving cryptocurrency space.