The post Ex-OpenSea Employee Sentenced to Prison for NFT Insider Trading! appeared first on Coinpedia Fintech News
Former OpenSea product manager Nathaniel Chastain has been sentenced to three months in prison for using insider knowledge to benefit himself in the non-fungible token (NFT) market. Chastain used his access to OpenSea’s internal systems to find out which tokens would be featured on the platform’s homepage before buying dozens of them ahead of their appearance. He was fined $50,000 and ordered to forfeit the Ethereum he made from the scheme. Prosecutors said the case marked the first insider trading conviction related to digital assets.
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