This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Novel crypto theft involved old-time bait and switch, US says at close of trial

By Samuel Rubenfeld ( November 5, 2025, 02:13 GMT | Insight) -- Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, prosecutors said Tuesday at the close of their trial. Defense lawyers for each brother countered by saying that finding the vulnerability and using it to make money was a legitimate cryptocurrency trading strategy in a highly competitive environment.Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, prosecutors said Tuesday at the close of their trial....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Related Sections