U.S. prosecutors oppose efforts to introduce cryptocurrency policy arguments in the case of two brothers accused of using a maximum extractable value (MEV) bot to exploit Ethereum.
In documents submitted to the U.S. District Court for the Southern District of New York on Tuesday, prosecutors opposed a friend-of-the-court brief—submitted by stakeholders not directly involved in the case—that could encourage the jury to acquit Anton and James Peraire-Bueno. The two are accused of executing a $25 million MEV attack on the Ethereum blockchain in April 2023.
A letter to the federal judge overseeing the case suggested that the cryptocurrency advocacy organization Coin Center, behind the friend-of-the-court brief, should express concerns about digital asset policy through Congress rather than the court.
"Allowing this type of friend-of-the-court brief—arguing that the defendants should be acquitted due to their impact on the industry or the broader internet users—is to allow the defendants to argue for nullification, which is lawless," the document stated. "The only concern of the court is whether a reasonable jury can find the defendants guilty based on the evidence presented at trial. Broader policy issues are not suitable for discussion in this context."
In response to the U.S. government's letter, the lawyers defending the Peraire-Bueno brothers stated that Coin Center's brief would provide "a unique perspective that assists the court" regarding the prosecutors' case theory.
"Given that Ethereum users engage in economic activities, the government's theory implies that any trading strategy or interaction with other users—if there is an adversarial or competitive relationship (i.e., everyone else)—could potentially trigger federal criminal liability as long as it deviates from blockchain protocol norms," the defense team stated in documents on Wednesday, adding:
The opening arguments in the case against the two brothers began on October 15, more than a year after they were charged with conspiracy to commit wire fraud, money laundering, and conspiracy to receive stolen property.
At the heart of this criminal case is the allegation that the Peraire-Bueno brothers used an MEV bot to remove $25 million worth of cryptocurrency in 2023.
MEV attacks refer to blockchain validators or traders manipulating the order of transactions within a block to gain unfair profits.
According to data cited in a report by the European Securities and Markets Authority in July, MEV revenue based on Ethereum totaled approximately $963 million, with profits of about $417 million from December 2022 to January 2025.
Due to the potential implications of a guilty verdict and court decisions on others in the cryptocurrency industry, many industry leaders and advocacy organizations have been closely monitoring this case. Cointelegraph reached out to Coin Center representatives for comments but had not received a response by the time of publication.
The U.S. government claims the brothers stole cryptocurrency by implementing "high-speed bait-and-switch" tactics, thereby "deceiving the victims," while the defense lawyers argue that "the victim here is the sandwich bot," and the Peraire-Bueno brothers were merely using trading strategies to extract digital assets.
As of Wednesday, the trial has entered its 11th day and is expected to last until November. If convicted, the judge could sentence the brothers to up to 20 years in prison for each count in the indictment.
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Original: “U.S. Prosecutors Oppose Introduction of Crypto Policy Arguments in MEV Bot Trial”
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