Jury Remains Deadlocked in Ethereum MEV Bot Case
Jury deliberations in the federal trial of brothers Anton and James Peraire-Bueno have entered a prolonged phase, with jurors no closer to a unanimous verdict as the week ends. The brothers stand accused of using maximal extractable value (MEV) bots to obtain $25 million in cryptocurrency from the Ethereum blockchain during 2023.
Deliberations Extend Beyond Industry Precedent
According to reporting from Inner City Press at a Manhattan federal court, the jury has spent almost three full business days discussing the charges. This is significantly longer than other recent crypto-related trials. For instance, the jury in the criminal case of former FTX CEO Sam Bankman-Fried took only about five hours to reach a decision.
Charges and Legal Arguments
The Peraire-Bueno brothers face charges including conspiracy to commit wire fraud, money laundering, and conspiracy to receive stolen property. Prosecutors allege the siblings exploited the Ethereum blockchain by misrepresenting themselves as honest validators, thereby "tricking" the system to extract funds through MEV bots.
Defense attorneys' requests for a mistrial were denied by Judge Jessica Clarke, who instructed the jury to continue deliberations into the evening. Reporting indicated that the jury may be considering a not-guilty verdict on at least one of the charges.
Judicial Guidance and Possible Outcomes
- Jurors requested more clarification from the judge about the brothers' intentions.
- Judge Clarke has not yet delivered an Allen charge, a judicial instruction encouraging jurors to reach agreement if deadlocked.
- The jury previously notified the judge they were prepared to stay late into Friday night.
The duration of these deliberations reflects the complexity and novel legal questions surrounding the use of blockchain technology and MEV bots. As of the latest updates, it remains uncertain when or if a verdict will be reached.
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