Over the next 72 minutes, they carried out four more attacks on four other males, with the final attack seeing them spray liquid in the face of another moped rider before stealing his vehicle.
According to police, that fourth victim has suffered "life-changing" injuries to his face and remains hospitalized.
They also say all five victims are currently recovering in hospital, meanwhile the two teenagers are currently being held at a North London and Scotland Yard police stations were they are currently being questioned.
At 11.18pm, the police received a call to a similar incident, a robbery in Cazenove Road, where a corrosive substance had been thrown.
The use of acid in attacks has even spread to children as young as 12 who have been arming themselves with substances "for self-defense".
BBC reported that the attackers were on a scooter as they threw the substance at their victims. One of the attackers then allegedly stole the victim's moped and drove away. "He is now in custody at an east London police station".
In June, an acid attack left two Muslim cousins seriously injured in east London.More news: California's Governor declared an emergency following wildfires on Tuesday
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He was taken to hospital, and his injuries were described as not life-threatening.
Amid mounting public concern, the British government said it is considering increasing sentences for acid attacks to a maximum of life. Police had cordoned off the little area around the pavement and there was just a guy standing on my doorway and they were pouring huge, five-litre bottles of water over his head.
A man left with "life changing" injuries following a spate of acid attack robberies was left screaming in agony as dozens of people rushed into the street to try and help him, witnesses said.
At around 10.50pm, a man had a corrosive substance thrown into his face by two men on a moped in Upper Street junction with Highbury Corner. The Met Police's figures show there were 261 acid attacks in 2015, rising to 458 past year.
The Metropolitan Police force said late Saturday that a 16-year-old boy faces 15 charges, including grievous bodily harm.
The pattern was repeated across a swath of east London.
The Home Office said it would work with police and the Ministry of Justice to assess whether powers available to the courts, including sentencing, were sufficient.