A New York jury failed to reach a verdict in the case of Anton and James Peraire-Bueno, accused of fraud and money laundering related to a $25 million Ethereum blockchain exploit. The mistrial was declared by US District Judge Jessica Clarke after a three-week trial in Manhattan federal court.

The brothers allegedly used MEV bots to execute an exploit that netted them $25 million in just 12 seconds. Prosecutors argued they engaged in a “bait and switch” scheme to defraud users. Defense lawyers pushed back, stating there was no fraud or money laundering involved, likening it to “stealing a base in baseball.”

Following the mistrial, the crypto industry is divided on the legal and technical implications of treating MEV-related activity as a criminal offense. Crypto advocacy organization Coin Center filed an amicus brief after prosecutors’ opposition. Some experts believe the outcome could hinge on the brothers’ online activity and conversations with others.

Read more at Cointelegraph: MEV Bot Criminal Trial Ends in Mistrial After Jury Fails to Reach Verdict