Coinbase insider trader gets 10-month prison sentence
Wahi was arrested as he was boarding a one-way flight to India and was found to be carrying “three large suitcases, seven electronic devices, two passports, multiple other forms of identification, hundreds of dollars in US currency, financial documents, and other personal effects.His brother, Ishan Wahi worked as a product manager assigned to a Coinbase asset listing team and, between August 2021 and May 2022, was a member of a private messaging channel reserved for a small number of employees with direct involvement in the asset listing process.The private channel was used to discuss, among other things, “exact announcement / launch dates + timelines” that Coinbase did not wish to share with all of its employees.According to prosecutors, on at least 14 occasions Wahi passed on this confidential information to either his brother or friend, Sameer Ramani. The three would then use anonymous Ethereum blockchain wallets to acquire crypto shortly before Coinbase publicly announced that it was listing or considering listing these assets on its exchanges.
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