Ex-Coinbase Worker's Brother Cops To Crypto Insider Trading

By Rachel Scharf (September 12, 2022, 1:19 PM EDT) — The brother of a former Coinbase product manager pled guilty to wire fraud conspiracy Monday in a case Manhattan federal prosecutors have billed as the first prosecution of a cryptocurrency insider trading tipping scheme.

Nikhil Wahi entered the guilty plea during a virtual hearing before U.S. District Judge Loretta A. Preska. He’s accused in a novel indictment of a $1.5 million scheme to trade on crypto assets based on nonpublic information passed along by his brother, former Coinbase employee Ishan Wahi.

“I learned information about which new cryptocurrency coins would be listed on Coinbase before finding out publicly about that information,”…

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