Jury in MEV Bot Trial Struggles to Reach Verdict
The jury in the trial of two brothers accused of using maximum extractable value (MEV) bots on the Ethereum blockchain to extract approximately $25 million in cryptocurrencies is struggling to reach a verdict. 
The jurors have been deliberating for nearly three full business days, with no clear indication of when a verdict will be reached.
The case against the brothers, Anton and James Peraire-Bueno, centers around allegations that they used MEV bots to trick the Ethereum blockchain into releasing funds to them. Prosecutors argue that the brothers presented themselves as “honest validators” on the blockchain, allowing them to extract the funds. However, the defense argues that the brothers’ actions were not fraudulent and that they were simply taking advantage of a flaw in the system.
Deliberations Continue
The jury’s deliberations have been ongoing since Wednesday, with the jurors requesting additional clarification from the judge on the intentions behind the brothers’ actions. Despite the judge’s instructions, the jurors have reportedly been unable to reach a unanimous verdict. According to an Inner City Press report, the jury may have found the brothers not guilty on at least one of the counts of conspiracy to commit wire fraud, money laundering, and conspiracy to obtain stolen property.
The length of the deliberations is unusual, with most comparable cryptocurrency and fraud-related cases reaching a verdict in a much shorter time frame. For example, the jury in the criminal trial of former FTX CEO Sam Bankman-Fried in the same district court took only about five hours to find him guilty of seven felonies.
Expert Insights
Researchers at Columbia University have noted that there is a significant amount of “artificial trading” on polymarkets, which could have implications for the case. The use of MEV bots is a complex issue, and the jury’s struggles to reach a verdict reflect the challenges of navigating this emerging area of law.
The case has significant implications for the cryptocurrency industry, with many experts watching the outcome closely. As the jury continues to deliberate, the outcome remains uncertain. For more information on the case and its implications, visit Cointelegraph.
