News & Analysis as of

Non-Fungible Tokens (NFTs) Wire Fraud Digital Assets

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

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

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

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

Proskauer - Blockchain and the Law

District Court Declines to Dismiss NFT “Insider Trading” Indictment against Former OpenSea Employee

In late October, a New York district court refused to dismiss the Department of Justice’s (DOJ) indictment against defendant Nathaniel Chastain, who was charged with wire fraud and money laundering relating to his using...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

Cadwalader, Wickersham & Taft LLP

SEC and Department of Justice Announce Parallel Crypto 'Insider Trading' Charges as Regulators and Congress Wrangle over...

On July 21, the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Attorney’s Office for the Southern District of New York announced parallel civil and criminal actions against a former product manager at Coinbase...more

Barnea Jaffa Lande & Co.

First US Indictment for NFT Insider Trading Offenses

A few days ago, the SEC has charged a former employee of OpenSea (the largest NFT marketplace) In the first-ever digital asset indictment. SEC charged him with wire fraud and money laundering in connection with a scheme to...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

Skadden, Arps, Slate, Meagher & Flom LLP

‘Insider Trading’ and NFTs: What Should Companies Be Doing?

The recent indictment of an employee of OpenSea, a prominent NFT marketplace, highlights the risk of trading digital assets based on the improper use of confidential information, even where the digital asset is not a...more

Seward & Kissel LLP

Former OpenSea Employee Charged with Insider Trading in NFTs; Could This be a “One-Off” or Sign of Future Actions?

Seward & Kissel LLP on

On June 1, 2022, the U.S. Attorney’s Office for the Southern District of New York announced the indictment of former OpenSea employee Nathaniel Chastain for an NFT “insider trading” scheme. From at least June to...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

Lowenstein Sandler LLP

SDNY U.S. Attorney's Office Charges First-Ever Digital Asset Insider Trading Scheme

Reaffirming DOJ’s focus on digital assets, the U.S. Attorney’s Office for the Southern District of New York today charged a defendant, for the first time ever, with insider trading in non-fungible tokens (NFTs). ...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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