Ex-Coinbase Employee Indicted in Alleged Crypto Insider Trading Scheme, Manhattan Feds Say
Lawyers for the a former employee at the cryptocurrency platform said their client was innocent of all charges.
July 21, 2022 at 02:26 PM
4 minute read
Financial Services and Banking
The U.S. Attorney's Office for the Southern District of New York on Thursday announced that a former employee at the cryptocurrency platform Coinbase has been charged in an insider trader tipping scheme after allegedly sharing confidential information about which crypto assets were going to be listed on Coinbase exchanges.
Prosecutors say the case, which involves at least $1.5 million in realized and unrealized gains, is the first time charges have been brought in an insider trading tipping scheme involving cryptocurrency.
Former Coinbase project manager Ishan Wahi, 32, and his brother Nikhil Wahi, 26, were arrested Thursday morning in Seattle, while their alleged co-conspirator Sameer Ramani, 33, of Houston is still at large, according to the U.S. Attorney's Office. All three men have been charged with wire fraud and wire fraud conspiracy, according to an indictment unsealed Thursday.
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