In a significant legal maneuver, defense attorneys for brothers Anton Peraire-Bueno and James Peraire-Bueno have filed an eight-page objection against the U.S. Department of Justice”s (DOJ) request to take an out-of-country deposition from Ethereum researcher Justin Drake. This filing, dated March 5, 2026, comes as the court is still reviewing the defense”s Rule 29 motion for acquittal, following a previous mistrial in the case.
The defense contends that the government”s request is untimely and should be dismissed until the court issues a ruling on the pending acquittal motion. The DOJ seeks to depose Drake in preparation for a potential retrial related to the alleged $25 million exploit involving the Ethereum blockchain.
The background of the case reveals that the Peraire-Bueno brothers face charges including conspiracy to commit wire fraud and money laundering. Prosecutors allege that they executed a sophisticated scheme to exploit the Ethereum blockchain, reportedly stealing approximately $25 million worth of cryptocurrency in a matter of seconds. The indictment claims the brothers manipulated transaction validation processes to access and alter pending transactions, diverting funds from unsuspecting cryptocurrency traders.
Deputy Attorney General Lisa Monaco highlighted the operation as a “first-of-its-kind” scheme that involved intricate planning and execution. Authorities allege that the brothers studied the trading habits of targeted individuals, established shell companies, and utilized various cryptocurrency wallets and foreign exchanges to obscure the origins of the stolen funds.
The investigation has been led by the IRS Criminal Investigation Cyber Unit, with Special Agent in Charge Thomas Fattorusso emphasizing the unprecedented nature of the alleged manipulation of the Ethereum blockchain.
The case previously went to trial in November 2025, but jury deliberations ended without a consensus, resulting in a mistrial declared by U.S. District Judge Jessica Clarke after jurors reported being deadlocked. Following the mistrial, prosecutors sought to schedule a retrial as early as February 2026. However, defense attorneys argued that a quick retrial was unnecessary, suggesting late April 2026 as a more suitable timeframe.
Subsequent legal disputes have emerged, including procedural filings and motions from both sides. Recently, a significant point of contention has been whether prosecutors can take testimony from Justin Drake outside the U.S. prior to the court”s ruling on the defense”s Rule 29 motion. The defense asserts that proceeding with such steps towards a retrial before the court”s decision is inappropriate.
If convicted, both Anton and James Peraire-Bueno could face substantial prison sentences, as each count of wire fraud and conspiracy to commit wire fraud carries a maximum penalty of 20 years. As the case unfolds in the Southern District of New York, the court”s ruling on the defense”s motion will be pivotal in determining the future trajectory of this high-profile cryptocurrency case.
