OP 01 June, 2022 - 08:58 PM
BREAKING:
Nate Chastain, former Product Lead at OpenSea - has been federally charged with insider trading.
According to Reuters: Nate Chastain was accused of secretly buying 45 NFTs based on confidential information that they would soon be featured on OpenSea's home page, and later selling them at a profit, typically two to five times what he paid.
According to an indictment filed in Manhattan federal court, the scheme ran from June to September 2021, and Chastain transacted through anonymous digital currency wallets and accounts at OpenSea.
The Justice Department and SDNY U.S. Attorney’s Office have begun getting more active in prosecuting crypto crimes, but the NFT space has largely evaded much action, which made the announcement a bit of a shock to those in the crypto space.
Story is developing
![[Image: te0g3uK.gif]](https://i.imgur.com/te0g3uK.gif)
Nate Chastain, former Product Lead at OpenSea - has been federally charged with insider trading.
According to Reuters: Nate Chastain was accused of secretly buying 45 NFTs based on confidential information that they would soon be featured on OpenSea's home page, and later selling them at a profit, typically two to five times what he paid.
According to an indictment filed in Manhattan federal court, the scheme ran from June to September 2021, and Chastain transacted through anonymous digital currency wallets and accounts at OpenSea.
The Justice Department and SDNY U.S. Attorney’s Office have begun getting more active in prosecuting crypto crimes, but the NFT space has largely evaded much action, which made the announcement a bit of a shock to those in the crypto space.
Story is developing