News & Analysis as of

Blockchain Non-Fungible Tokens (NFTs) Wire Fraud

Seward & Kissel LLP

Second Circuit Vacates Former OpenSea Employee’s “Insider Trading” Conviction

Seward & Kissel LLP on

On June 1, 2022, the U.S. Attorney’s Office for the Southern District of New York charged former OpenSea employee Nathaniel Chastain with wire fraud1 for an NFT “insider trading” scheme. At the time, we here at SKrypto asked:...more

BakerHostetler

Weekly Blockchain Blog - March 2024

BakerHostetler on

Crypto Exchanges Launch Institutional Platform, LATAM Stablecoin - A major U.S. cryptocurrency exchange recently announced the launch of an institutional platform “aimed at institutions, asset managers, hedge funds and...more

Foley Hoag LLP - White Collar Law &...

New York Federal Prosecutors Indict Defendant in Connection with NFT Insider-Trading Scheme

Federal prosecutors from the Southern District of New York recently charged Nathan Chastain with wire fraud and money laundering in connection with a purported scheme to illegally profit from sales and purchases of...more

Proskauer - Blockchain and the Law

Rise of Financial Crime in the NFT Market Elicits New Scrutiny from Regulators

With the enduring popularity of certain NFTs and the promise of their use in the Metaverse and beyond, the hype around the new technology has been accompanied by rising concerns over NFTs being the centerpiece of traditional...more

Cranfill Sumner LLP

Department of Justice Takes Historic Step in Charging Former NFT Insider for Wire Fraud and Money Laundering in Connection with...

Cranfill Sumner LLP on

A product manager at OpenSea, a $13 billion online marketplace for non-fungible-tokens (“NFTs”), was indicted in the first-ever “insider-trading” action brought against a person using blockchain-based assets to allegedly...more

Eversheds Sutherland (US) LLP

DOJ brings first-ever NFT “insider trading” case

The US Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) has announced the unsealing of a first-of-its-kind indictment involving a digital asset “insider trading” scheme. The indictment charges Nathaniel...more

Nelson Mullins Riley & Scarborough LLP

The DOJ Throws Cold Water on the Frosties NFT Founders

The U.S. Attorney’s Office for the Southern District of New York recently charged two individuals for allegedly participating in a scheme to defraud purchasers of “Frosties” non-fungible tokens (or “NFTs”) out of over $1...more

Nelson Mullins Riley & Scarborough LLP

The DOJ Pulls the Rug on the Frosties NFT Founders

On March 24, 2022, the U.S Attorney’s Office for the Southern District of New York charged two individuals for their alleged participation in a scheme to defraud purchasers of non-fungible tokens (or “NFTs”) known as...more

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