After a week of court pranks, deliberations and dissent, the jury has delivered its verdict in the OpenSea insider trading case. As a result, former product manager Nate Chastain was formally convicted of involvement in wire fraud.
Back in September 2021, a cryptocurrency detective high seas A rogue trader is flipping both sides of NFTs featured on the NFT Marketplace homepage. A cunning plan that backfires when questionable funds are transferred to a wallet containing his CryptoPunk owned by Chastain.
During the lawsuit, Chastain’s attorneys argued that the defendant was unaware that his actions represented a breach of contract. He said he never notified him.
Burner wallets and secrets show confession of guilt
Despite these protests, prosecutors focused on the fact that Nate Chastain used Burner Wallet to make transactions. Ultimately, the jury elected to convict Chastain, with sentencing at a later date.
It’s unclear what impact this conviction will have on the wider NFT industry now that the turmoil has settled. I believe it will allow us to move forward. Whatever happens next, the Nate Chastain OpenSea insider trading case will remain a pivotal moment in the next phase of NFT.
want more? Connect with NFT Plaza
Join our weekly newsletter
Join Discord
follow me on twitter
Like us on Facebook
Follow us on Instagram
*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Decentralized humans, explorers, adventurers.
0 Comments