Two brothers who graduated from the Massachusetts Institute of Technology (MIT) were accused of orchestrating a $25 million Ethereum fraud scheme. Their four-week federal trial has ended in a mistrial after jurors failed to reach a unanimous decision on the applicable laws.

The brothers, 25-year-old Anton Peraire-Bueno and 29-year-old James Peraire-Bueno, were charged by the U.S. Attorney's Office for the Southern District of New York with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Prosecutors alleged that they exploited a vulnerability in the MEV-Boost software, earning $25 million in just 12 seconds.

However, the defense argued that their actions constituted fair competition within Ethereum's automated bot operations, particularly concerning MEV (Maximal Extractable Value) practices.

Despite the mistrial, the brothers still face the three charges. The U.S. Attorney's Office for the Southern District of New York will now decide whether to dismiss the case or pursue a retrial.