Two brothers, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, who attended the prestigious Massachusetts Institute of Technology (MIT), have been arrested and charged with stealing $25 million in cryptocurrency. The US Department of Justice has called this alleged heist the first of its kind. The brothers are accused of wire fraud and money laundering. Deputy Attorney General Lisa Monaco stated that the brothers carried out a technologically sophisticated scheme that they had planned for months and executed in just 12 seconds. The Internal Revenue Service (IRS) played a crucial role in uncovering this wire fraud and money laundering scheme.

According to prosecutors, the brothers used their specialized skills in mathematics and computer science, which they acquired during their studies at MIT, to exploit Ethereum’s transaction validation process. They allegedly gained access to pending private transactions and altered them to steal victims’ cryptocurrency. This process, known as “the Exploit,” was executed within seconds. When confronted by Ethereum representatives, the brothers refused to return the funds and took steps to launder and conceal their stolen gains.

This case is significant because it is the first time that this type of fraud has resulted in criminal charges. The alleged scheme raises concerns about the integrity of the blockchain, the public ledger that records cryptocurrency payments. If convicted, the brothers could face more than 20 years in prison. The case highlights the importance of cybersecurity and the need for robust measures to protect against such sophisticated schemes.

In conclusion, two brothers who studied at MIT have been arrested for allegedly stealing $25 million in cryptocurrency through a technologically advanced scheme. They used their specialized skills in mathematics and computer science to exploit Ethereum’s transaction validation process. This case is the first of its kind and raises questions about the integrity of the blockchain. If found guilty, the brothers could face significant prison sentences. It serves as a reminder of the importance of cybersecurity in the digital age.

Original news source: US brothers allegedly stole $25m in 12 seconds (BBC)

🎧 Listen:

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📖 Vocabulary:

Group or Classroom Activities

Warm-up Activities:

– News Summary
Instructions: Divide the class into pairs or small groups. Give each group a few minutes to read the article. Then, ask them to summarize the main points of the article in a few sentences. Afterward, have each group share their summaries with the class, and facilitate a discussion about the significance of the case.

– Opinion Poll
Instructions: Create a list of questions related to the article, such as “Do you think the brothers should be sentenced to prison if found guilty?” or “What measures should be implemented to prevent similar cryptocurrency thefts in the future?” Divide the class into pairs or small groups and give each group a few minutes to discuss and share their opinions on the questions. Then, have each group present their opinions to the class, and encourage a respectful and open discussion.

– Word Association
Instructions: Write the words “cryptocurrency,” “fraud,” “MIT,” “cybersecurity,” and “blockchain” on the board. Divide the class into pairs or small groups and give each group a few minutes to brainstorm and write down as many words or phrases associated with each of the given words as possible. Afterward, have each group share their associations with the class, and discuss the connections between the words and the article.

– Headline Creation
Instructions: Ask the students to work individually or in pairs to create catchy headlines for the article. Encourage them to be creative and concise. After a few minutes, have each student or pair share their headline with the class and explain their reasoning behind it. Facilitate a discussion about the different headline choices and their effectiveness in capturing the main points of the article.

– Future Predictions
Instructions: Divide the class into pairs or small groups. Ask each group to discuss and make predictions about the future of cryptocurrency and cybersecurity based on the information in the article. Encourage them to consider potential advancements, challenges, and impacts on society. Afterward, have each group present their predictions to the class, and facilitate a discussion about the possibilities and implications of their predictions.

🤔 Comprehension Questions:

1. How much cryptocurrency did the brothers allegedly steal?
2. What charges have the brothers been arrested and charged with?
3. How long did the brothers allegedly plan their scheme before executing it?
4. Which government agency played a crucial role in uncovering the fraud?
5. How did the brothers allegedly exploit Ethereum’s transaction validation process?
6. What did the brothers do when confronted by Ethereum representatives?
7. Why is this case significant?
8. What potential consequences do the brothers face if convicted?
Go to answers ⇩

🎧✍️ Listen and Fill in the Gaps:

Two brothers, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, who attended the prestigious Massachusetts Institute of Technology (MIT), have been arrested and charged with (1)______ $25 million in cryptocurrency. The US Department of Justice has called this alleged (2)______ the first of its kind. The brothers are accused of wire fraud and money laundering. Deputy Attorney General Lisa (3)______ stated that the brothers carried out a technologically sophisticated (4)______ that they had planned for months and executed in just 12 seconds. The Internal Revenue Service (IRS) played a crucial role in uncovering this wire fraud and money laundering scheme.

According to (5)______, the brothers used their specialized skills in mathematics and computer (6)______, which they acquired during their studies at MIT, to (7)______ Ethereum’s transaction validation process. They allegedly gained access to pending private transactions and altered them to steal victims’ cryptocurrency. This process, known as “the Exploit,” was executed within seconds. When (8)______ by Ethereum representatives, the brothers refused to return the funds and took steps to launder and conceal their stolen gains.

This case is (9)______ because it is the first time that this type of fraud has resulted in criminal charges. The alleged scheme raises (10)______ about the integrity of the blockchain, the public ledger that records cryptocurrency payments. If convicted, the brothers could face more than 20 (11)______ in prison. The case highlights the importance of cybersecurity and the need for robust measures to (12)______ against such sophisticated schemes.

In conclusion, two (13)______ who studied at MIT have been arrested for allegedly stealing $25 million in cryptocurrency through a technologically advanced scheme. They used their specialized skills in mathematics and computer science to exploit Ethereum’s transaction validation process. This case is the (14)______ of its kind and raises questions about the integrity of the blockchain. If found (15)______, the brothers could face significant prison (16)______. It serves as a reminder of the importance of cybersecurity in the digital age.
Go to answers ⇩

💬 Discussion Questions:

Students can ask a partner these questions, or discuss them as a group.

1. What is your opinion on the arrest and charges against the two brothers?
2. How would you feel if you were a victim of this cryptocurrency theft?
3. Do you think the punishment of more than 20 years in prison is appropriate for this crime? Why or why not?
4. Have you ever heard of other cases where specialized skills were used to commit a crime? If so, can you share an example?
5. What measures do you think should be put in place to protect against sophisticated schemes like this?
6. Do you think the integrity of the blockchain is compromised by this alleged fraud? Why or why not?
7. How do you think the reputation of MIT will be affected by this incident?
8. Have you ever invested in or used cryptocurrency? If so, did this news make you reconsider your involvement?
9. What steps do you take to protect your online security and personal information?
10. How do you think the advancements in technology have made it easier for criminals to commit fraud and theft?
11. Do you think the punishment for cybercrimes should be more severe than traditional crimes? Why or why not?
12. Have you ever been a victim of a cybercrime or online scam? If so, can you share your experience?
13. What role do you think educational institutions should play in teaching students about cybersecurity?
14. How do you think this case will impact the future development and regulation of cryptocurrencies?
15. Do you believe that blockchain technology is secure and reliable? Why or why not?

Individual Activities

📖💭 Vocabulary Meanings:

Match each word to its meaning.

Words:
1. prestigious
2. cryptocurrency
3. heist
4. wire fraud
5. laundering
6. sophisticated
7. scheme
8. uncovering
9. exploit
10. validation
11. integrity
12. blockchain
13. cybersecurity
14. robust
15. technologically

Meanings:
(A) In a manner relating to technology or technological processes
(B) Strong and effective in all or most situations
(C) A plan or arrangement for achieving a particular goal, often in a deceptive way
(D) A robbery or theft, especially one involving a large amount of money
(E) To take advantage of a vulnerability for personal gain
(F) A type of financial fraud involving the use of telecommunications or information technology
(G) Complex and advanced in design or function
(H) Highly respected and admired
(I) Discovering or revealing something hidden
(J) The process of confirming the accuracy or legitimacy of something
(K) A digital or virtual form of currency that uses cryptography for security
(L) The practice of protecting systems, networks, and programs from digital attacks
(M) The process of making illegally-gained money appear legal
(N) The quality of being honest and having strong moral principles
(O) A system in which a record of transactions made in cryptocurrency is maintained
Go to answers ⇩

🔡 Multiple Choice Questions:

1. What are the brothers accused of?
(a) Identity theft and hacking
(b) Wire fraud and money laundering
(c) Tax evasion and embezzlement
(d) Insider trading and securities fraud

2. How long did it take the brothers to execute their scheme?
(a) 1 minute
(b) 1 hour
(c) 1 day
(d) 12 seconds

3. What role did the Internal Revenue Service (IRS) play in uncovering the scheme?
(a) They had no involvement
(b) They played a crucial role
(c) They were unaware of the scheme
(d) They were the victims of the scheme

4. What skills did the brothers use to carry out their scheme?
(a) Engineering and physics
(b) Psychology and sociology
(c) Medicine and biology
(d) Mathematics and computer science

5. What is the process called that the brothers used to steal cryptocurrency?
(a) The Hack
(b) The Scam
(c) The Exploit
(d) The Scheme

6. What concerns does this case raise about the blockchain?
(a) Concerns about its integrity
(b) Concerns about its security
(c) Concerns about its scalability
(d) Concerns about its legality

7. How long could the brothers potentially be sentenced to if convicted?
(a) 5-10 years
(b) 1-5 years
(c) More than 20 years
(d) Less than 1 year

8. What does this case highlight the importance of?
(a) Cybersecurity
(b) Financial literacy
(c) Legal compliance
(d) Ethical hacking

Go to answers ⇩

🕵️ True or False Questions:

1. The sisters are facing charges of identity theft and embezzlement.
2. The brothers used their basic skills in mathematics and computer science to exploit Ethereum’s transaction validation process.
3. If convicted, the brothers could face more than 20 years in prison.
4. Two brothers who attended MIT have been arrested for stealing $25 million in cryptocurrency.
5. The Federal Bureau of Investigation played a crucial role in uncovering the fraud.
6. The scheme was carried out within 12 seconds, after months of planning.
7. The case raises concerns about the security of the blockchain.
8. The alleged heist is the first of its kind, according to the US Department of Justice.
Go to answers ⇩

📝 Write a Summary:

Write a summary of this news article in two sentences.

Writing Questions:

Answer the following questions. Write as much as you can for each answer.

1. What charges have the two brothers from MIT been arrested and charged with?
2. How did the brothers allegedly carry out the theft of $25 million in cryptocurrency?
3. What role did the Internal Revenue Service (IRS) play in uncovering the wire fraud and money laundering scheme?
4. Why is this case significant in relation to the integrity of the blockchain?
5. What potential consequences do the brothers face if they are convicted of the charges?

✅ Answers

🤔✅ Comprehension Question Answers:

1. How much cryptocurrency did the brothers allegedly steal?
$25 million.

2. What charges have the brothers been arrested and charged with?
Wire fraud and money laundering.

3. How long did the brothers allegedly plan their scheme before executing it?
They planned their scheme for months.

4. Which government agency played a crucial role in uncovering the fraud?
The Internal Revenue Service (IRS).

5. How did the brothers allegedly exploit Ethereum’s transaction validation process?
They gained access to pending private transactions and altered them to steal victims’ cryptocurrency.

6. What did the brothers do when confronted by Ethereum representatives?
They refused to return the funds and took steps to launder and conceal their stolen gains.

7. Why is this case significant?
It is the first time that this type of fraud has resulted in criminal charges, raising concerns about the integrity of the blockchain.

8. What potential consequences do the brothers face if convicted?
They could face more than 20 years in prison.
Go back to questions ⇧

🎧✍️✅ Listen and Fill in the Gaps Answers:

(1) stealing
(2) heist
(3) Monaco
(4) scheme
(5) prosecutors
(6) science
(7) exploit
(8) confronted
(9) significant
(10) concerns
(11) years
(12) protect
(13) brothers
(14) first
(15) guilty
(16) sentences
Go back to questions ⇧

📖💭✅ Vocabulary Meanings Answers:

1. prestigious
Answer: (H) Highly respected and admired

2. cryptocurrency
Answer: (K) A digital or virtual form of currency that uses cryptography for security

3. heist
Answer: (D) A robbery or theft, especially one involving a large amount of money

4. wire fraud
Answer: (F) A type of financial fraud involving the use of telecommunications or information technology

5. laundering
Answer: (M) The process of making illegally-gained money appear legal

6. sophisticated
Answer: (G) Complex and advanced in design or function

7. scheme
Answer: (C) A plan or arrangement for achieving a particular goal, often in a deceptive way

8. uncovering
Answer: (I) Discovering or revealing something hidden

9. exploit
Answer: (E) To take advantage of a vulnerability for personal gain

10. validation
Answer: (J) The process of confirming the accuracy or legitimacy of something

11. integrity
Answer: (N) The quality of being honest and having strong moral principles

12. blockchain
Answer: (O) A system in which a record of transactions made in cryptocurrency is maintained

13. cybersecurity
Answer: (L) The practice of protecting systems, networks, and programs from digital attacks

14. robust
Answer: (B) Strong and effective in all or most situations

15. technologically
Answer: (A) In a manner relating to technology or technological processes
Go back to questions ⇧

🔡✅ Multiple Choice Answers:

1. What are the brothers accused of?
Answer: (b) Wire fraud and money laundering

2. How long did it take the brothers to execute their scheme?
Answer: (d) 12 seconds

3. What role did the Internal Revenue Service (IRS) play in uncovering the scheme?
Answer: (b) They played a crucial role

4. What skills did the brothers use to carry out their scheme?
Answer: (d) Mathematics and computer science

5. What is the process called that the brothers used to steal cryptocurrency?
Answer: (c) The Exploit

6. What concerns does this case raise about the blockchain?
Answer: (a) Concerns about its integrity

7. How long could the brothers potentially be sentenced to if convicted?
Answer: (c) More than 20 years

8. What does this case highlight the importance of?
Answer: (a) Cybersecurity
Go back to questions ⇧

🕵️✅ True or False Answers:

1. The sisters are facing charges of identity theft and embezzlement. (Answer: False)
2. The brothers used their basic skills in mathematics and computer science to exploit Ethereum’s transaction validation process. (Answer: False)
3. If convicted, the brothers could face more than 20 years in prison. (Answer: True)
4. Two brothers who attended MIT have been arrested for stealing $25 million in cryptocurrency. (Answer: True)
5. The Federal Bureau of Investigation played a crucial role in uncovering the fraud. (Answer: False)
6. The scheme was carried out within 12 seconds, after months of planning. (Answer: True)
7. The case raises concerns about the security of the blockchain. (Answer: False)
8. The alleged heist is the first of its kind, according to the US Department of Justice. (Answer: True)
Go back to questions ⇧