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The courtroom drama surrounding the MIT Brothers $25M Crypto Theft Case is far from over. Federal prosecutors announced plans to retry Anton and James Peraire-Bueno, two Massachusetts Institute of Technology–educated siblings accused of orchestrating a multimillion-dollar cryptocurrency heist, after a New York jury deadlocked last week, forcing a mistrial.

In a letter to the court Monday, prosecutors urged for a new trial date in April 2026 or earlier, depending on defense counsel availability. The defense, however, signaled intentions to file a Rule 29 motion—seeking a full acquittal—while asking that any retrial be delayed until after April 20, 2026, citing professional commitments.

U.S. District Judge Jessica Clarke declared a mistrial Friday after jurors deliberated for roughly 22 hours over three days without reaching unanimity. The brothers had faced wire fraud, conspiracy, and money laundering charges tied to an elaborate digital currency scheme prosecutors say siphoned $25 million in seconds.

Jury’s Emotional Breakdown Ends Trial

The tension inside the Manhattan courtroom reached a breaking point by the third day of deliberations. Jurors sent several detailed notes to Judge Clarke, many grappling with questions about the definition of “fraudulent intent” under wire fraud law.

By 3 p.m. Friday, they signaled their impasse: “We don’t believe we can come to a unanimous verdict.”

Three hours later, in a final note signed by every juror, they confirmed they were no closer to agreement. The letter described an intense emotional toll — half the panel broke down in tears, and several jurors admitted to sleepless nights wrestling with the case. Judge Clarke then called an end to the high-profile trial.

A Coded Operation Named “Omakase”

Prosecutors allege the Peraire-Bueno brothers masterminded a secret operation they called “Omakase”, a nod to precision and timing akin to a chef’s curated meal. According to the indictment, the pair used their MIT-honed technical skills to execute a $25 million crypto heist targeting “sandwich traders” — crypto players who profit by front-running and back-running other traders’ transactions.

These so-called “sandwich attacks” use bots to manipulate token prices: buying in just before another trader’s transaction to raise the price, then selling immediately after to pocket the difference. The Peraire-Buenos allegedly turned this tactic on its head, setting up a sophisticated counterattack that drained their rivals’ wallets in seconds.

Prosecutors claim the brothers’ actions were calculated theft disguised as market savvy, while the defense insists they played within the gray lines of an unregulated system—exploiting vulnerabilities, not breaking laws.

Defense Argues Strategy, Not Stealing

Throughout the trial, the brothers’ attorneys argued that their clients were not cybercriminals but innovators, leveraging legitimate strategies in the “adversarial and lawless” crypto landscape.

“Anton and James were using their expertise to outsmart bots designed to manipulate others,” their lawyers maintained, asserting that their actions represented clever counter-trading, not criminal intent.

The government, however, painted a different picture — one of premeditated deception, claiming the brothers conspired to mislead traders and launder millions through anonymous digital wallets.

Legal Teams and What Comes Next

The government’s team includes Danielle Kudla, Jerry Jia-Wei Fang, Benjamin Levander, and Ryan Nees from the U.S. Attorney’s Office for the Southern District of New York.

Anton Peraire-Bueno is represented by Daniel Marx and William Fick of Fick & Marx LLP, while James Peraire-Bueno is represented by Katherine Trefz, Daniel Shanahan, Patrick Looby, Ikenna Ugboaja, and Joseph Bayerl of Williams & Connolly LLP, along with Jonathan Bach of Shapiro Arato Bach LLP.

As the government presses for a retrial and the defense seeks acquittal, the saga of the MIT Brothers $25M Crypto Theft Case continues to blur the line between genius and guilt, offering a chilling glimpse into the shadowy intersection of code, currency, and crime.