News & Analysis as of

Money Laundering Non-Fungible Tokens (NFTs) Criminal Prosecution

A&O Shearman

Second Circuit Vacates Wire Fraud Conviction For “Insider Trading” On NFTs

A&O Shearman on

On July 31, 2025, a divided panel of the United States Court of Appeals for the Second Circuit issued an opinion vacating the wire fraud and money laundering convictions of a former manager of a marketplace for non-fungible...more

BakerHostetler

Weekly Blockchain Blog - March 2024 #3

BakerHostetler on

Financial Firms Complete Blockchain Pilot, UK Approves Crypto ETNs - A recent press release announced completion of the Canton Network pilot, “a first-of-its-kind program demonstrating the interoperability of twenty-two...more

BakerHostetler

Jury Finds Former NFT Marketplace Manager Guilty of 'Insider Trading' Wire Fraud Scheme and Money Laundering

BakerHostetler on

On May 3, 2023, a jury found Nathaniel Chastain, a former manager of OpenSea (a major NFT marketplace), guilty of wire fraud and money laundering in connection with his attempts to conceal his use of confidential business...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

BakerHostetler on

DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more

BakerHostetler

AD-ttorneys@law - January 2023 #2

BakerHostetler on

Introducing Our Secret Plan to Fight Inflation - It’s simple: Don’t fall afoul of the FTC - ’Twas Ever Thus - Every year, like the swallows returning to Capistrano, the Perseid meteor shower, or a Real Housewives...more

Harris Beach Murtha PLLC

Cryptocurrency: In the Face of Increased Enforcement, Be Prepared

This summer was a busy one for cryptocurrency regulators, with aggressive actions potentially signaling an increase in consumer protection compliance activity. In August alone, the New York Department of Financial Services...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

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

Polsinelli

Former OpenSea Employee Charged with Wire Fraud and Money Laundering in First Ever “Digital Asset Insider Trading” Scheme

Polsinelli on

A former employee of OpenSea, the largest marketplace for the purchase and sale of non-fungible tokens (NFTs), has been indicted and charged with wire fraud and money laundering allegedly in connection with actions he took...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

ArentFox Schiff

Investigations Newsletter: Millennial Couple Faces Twenty Years in Prison for Largest DOJ Bitcoin Seizure in History

ArentFox Schiff on

Millennial Couple Faces Twenty Years in Prison for Largest DOJ Bitcoin Seizure in History - On February 7, 2022, authorities arrested a husband and wife in their 30s, Ilya Lichtenstein and Heather Morgan, accused of...more

American Conference Institute (ACI)

[Event] 10th Edition of Fraud, Asset Tracing & Recovery - January 24th - 25th, Miami, FL

ACI’s and C5’s 10th Edition of Fraud, Asset Tracing & Recovery Miami conference is returning on January 24 – 25, 2022 in person! Deemed as the foremost, can’t-miss event for the Fraud community, it gathers the pre-eminent...more

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