Former OpenSea director traded insider information – court verdict

Nathaniel Chastain, who runs the OpenSea NFT store, is accused of insider trading. The court recently found him guilty. This information was written by Reuters.

Details about the case

Nathaniel Chastain was taken into custody last year. The reason was the emergence of suspicions of fraudulent activities, where electronic communication methods were used. He was also accused of money laundering. The former director refused to admit his guilt.

However, the prosecutor emphasized that the defendant abused his position in the company, filled his pockets and constantly lied to cover his tracks.

The former director is accused of acquiring NFT, subsequently sold directly on the site. According to experts, he was able to earn over 50 thousand dollars on this. The prosecutor's office drew attention to the use of anonymous accounts to perform illegal operations.

Chastain's lawyers tried to dismiss or get rid of the accusations of this. However, they did not succeed.

It should be noted that last month the New York police detained an inactive broker of JPMorgan and Deutsche Bank - Rashon Russell. He was also accused of fraudulent activities with cryptocurrency assets.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.