As the trial of Anton and James Peraire-Bueno enters its 11th day, a decision from the judge is anticipated regarding whether Coin Center can submit an amicus brief related to the case.
US federal prosecutors have voiced their opposition to integrating cryptocurrency policy arguments in the trial of the Peraire-Bueno brothers, who face allegations of exploiting Ethereum through maximal extractable value (MEV) bots.
In a court document filed on Tuesday with the US District Court for the Southern District of New York, prosecutors argued against the amicus curiae—a brief from an interested third party—that could potentially sway a jury towards acquitting the brothers. They are accused of orchestrating a $25 million exploit of the Ethereum blockchain in April 2023.
The letter directed at the presiding judge maintained that Coin Center, a cryptocurrency advocacy group, should address its policy concerns through legislative channels instead of the judiciary.
“Allowing an amicus brief of this nature—claiming that the defendants should be acquitted due to implications for the industry—is tantamount to endorsing lawlessness,” the filing stated. “The Court’s principal focus is to determine if a reasonable jury might convict based on the trial’s evidence. Broader policy concerns should not be considered in this context.”
In reply to the government’s arguments, defense attorneys asserted that the Coin Center’s input would provide valuable insight concerning the prosecution’s case theory, saying:
“Ethereum participants engaging in economic activities implies that any competitive trading strategy that deviates from protocol specifications could incur federal criminal liability.”
The criminal case stems from the Peraire-Buenos’ alleged use of MEV bots for a significant cryptocurrency theft in 2023.
A MEV attack refers to a scenario where a blockchain validator or trader alters transaction sequences within a block for unfair profit.
Notably, many industry stakeholders and advocacy groups are keenly observing this trial due to its potential ramifications for the crypto sector. If convicted, each brother faces up to 20 years in prison for every count in the indictment.
