Coin Center files brief in Ethereum MEV trial, disputes ‘honest validation’ theory

The cryptocurrency advocacy organization Coin Center submitted an amicus curiae brief in the ongoing criminal trial of Anton and James Peraire-Bueno, who are accused of a $25 million Maximal Extractable Value (MEV) exploit on the Ethereum blockchain in April 2023. Coin Center directly disputes the US government's central theory that the brothers committed fraud by presenting themselves as “hones validators.” The organization argues that “hones validation” in crypto communities is a mathematical check of protocol compliance, not a legal or normative judgment. Coin Center contends that the prosecution is attempting to impose a novel code of conduct on top of existing protocol rules, which would be detrimental and is unsupported by industry practice. Furthermore, they argue that adopting the prosecution's theory would contravene legal principles like damnum absque injuria (harm without legal injury) and fair notice. The Peraire-Bueno brothers face multiple serious charges, including conspiracy to commit wire fraud, and could face up to 20 years in prison per count if convicted.

(Source：Cointelegraph)