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HomeOpenseaOpenSea employee charged with insider trading in NFTs

OpenSea employee charged with insider trading in NFTs

New York, June 1 (Reuters)-US prosecutor in Manhattan released an indictment on Wednesday accusing the product manager of OpenSea, the largest online marketplace for non-alternative tokens, in insider trading.

Nathaniel Chastain was accused of secretly buying 45 NFTs based on sensitive information that will soon be posted on the OpenSea homepage and later selling them for a profit of 2-5 times the amount he usually paid. ..

According to a complaint filed in federal court in Manhattan, the plan took place from June to September 2021 and Chastain traded in OpenSea via an anonymous digital currency wallet and account.

Chastain has been charged with wire fraud and money laundering. His lawyer could not be identified immediately. OpenSea and the US law firm in Manhattan did not immediately respond to requests for comment. (Report by Jonathan Stempel of New York)

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