Home Finance Former NFT Marketplace Employee Charged in Insider Trading Scheme

Former NFT Marketplace Employee Charged in Insider Trading Scheme

by Enochadmin

The Justice Division charged a former worker of an NFT market with fraud and cash laundering in what prosecutors mentioned was the primary case to contain insider buying and selling of the digital tokens.

An indictment unsealed Wednesday in New York charged Nathaniel Chastain, a 31-year-old former product supervisor on the on-line market OpenSea, with utilizing inside info to revenue on NFTs, or nonfungible tokens, that had been to be featured on his employer’s residence web page. Mr. Chastain was arrested Wednesday morning and later pleaded not responsible at his arraignment in a Manhattan federal courtroom. A federal Justice of the Peace choose set his launch at a $100,000 bond and ordered him to give up his passport and to not contact present or former OpenSea workers.

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