The lure of profit was irresistible. Worked at Ishan Wahi Project manager at Coinbase. This position allowed his company to obtain very sensitive data regarding the virtual currencies he was about to list and promote on the platform. Therefore, according to the judges, Me Wahi must have notified Nikhil and other accomplices at least fourteen times of the exact date of the IPO of these new products. Too much information to make them execute highly profitable trades in these crypto assets before public announcements from Coinbase.
He exchanges confidential information about cryptocurrencies and risks spending 20 years behind bars.
Gentlemen Wahi tried to hide their crimes by diversifying the accumulated virtual currencies and creating accounts under fake names on other centralized exchanges and transferring their assets through various Ethereum digital wallets.
Their efforts were in vain, they were caught by the American authorities, where insider trading was severely punished. Nikhil Wahi 10 months in prison. What his older brother did was worse: He could spend 20 years behind bars.
Source : Gizmodo
