US prosecutors are opposing the introduction of crypto policy arguments in the case of two brothers accused of exploiting Ethereum with MEV bots. The brothers allegedly profited $25 million in April 2023. Coin Center’s amicus brief was rejected, with prosecutors arguing that larger policy questions should be addressed through Congress, not the courts.
Defense lawyers for the accused brothers argue that the Coin Center brief provides a unique perspective that can help the court understand the prosecutors’ theory. The case involves accusations of wire fraud, money laundering, and theft related to the use of MEV bots to extract $25 million in crypto in 2023. Industry leaders are closely watching the trial, which began on October 15.
MEV attacks involve manipulating transaction order to gain unfair profits. Ethereum-based MEV revenues reached $963 million from December 2022 to January 2025, with profits of around $417 million. The trial, now in its 11th day, could result in up to 20 years in prison for each count if the brothers are found guilty. The defense claims the brothers used a trading strategy, while the government argues they deceived victims.
The trial has drawn interest from the crypto industry due to its potential impact on others. The court case highlights the complexities of MEV attacks and their financial implications. With the trial expected to continue into November, the outcome could have significant repercussions for the industry.
Read more at Cointelegraph.com
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