A former employee of OpenSea, the world’s largest marketplace for non-fungible tokens (NFTs), has been arrested on charges of insider trading, in the first such case involving digital assets.
Nathaniel Chastain, 31, a former product manager at Ozone Networks, was charged with wire fraud and money laundering for committing insider trading by using confidential information about what NFTs were going to be featured on OpenSea’s homepage for his personal financial gain, said the US Department of Justice in a statement.
Mr Chastain was arrested by the Federal Bureau of Investigation on Wednesday in New York. The charges of wire fraud and money laundering carry a maximum sentence of 20 years each in prison.
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