The insider trading scheme, which generated more than $1.1million in profits over the course of a year, was run by a former Coinbase product manger and two other individuals, according to U.S. federal officials today.
While working at the San Francisco-based cryptocurrency exchange Ishan Wahi was an employee, Ishan Wahi allegedly gave information about upcoming asset listing announcements his brother Nikhil Wahi and his friend Sameer Ramani.
The Department of Justice Today, the SEC announced that all three people were arrested and charged with wire fraud conspiracy and wire fraud in relation to a scheme to trade in cryptocurrency assets using confidential Coinbase information. The SEC also announced today It filed civil charges against the trio for the alleged scheme.
This story is still in development and will be updated.
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