Is Coinbase Bringing "Big Brother" to Bitcoin Accounts?
Coinbase has been one of the driving forces in the growth of Bitcoin over the past two years. They have brought many major mainstream corporations into the Bitcoin fold recently, with Mozilla (Firefox), Time Magazine and The United Way among them. Now, it seems they are prepared to bring one more mainstream ingredient to consumer's digital currency world: Spying. Also read: Coinbase Seemingly Allows Mass-phishing and Leaked User Information. Coinbase: Regulation Compliant or Digital "Big Brother". Being an American corporation, located in the California's Bay Area, brings certain positives....
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The brother of a former Coinbase product manager has pleaded guilty in a cryptocurrency insider trading case. According to the U.S. Department of Justice (DOJ), he is facing up to 20 years in federal prison.
DOJ’s First Crypto Insider Trading Case
The U.S. Department of Justice (DOJ) announced Monday that Nikhil Wahi, the brother of a former product manager at Coinbase Global Inc. (Nasdaq: COIN), “pled guilty to one count of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets.” The DOJ calls it the....
Insider trading charges have started to hit the crypto markets. Easily the biggest story yet in this topic came in recent months, with the indictment of former OpenSea head of product, Nate Chastain. The gavel is impending once more this week, as the brother of an ex-Coinbase manager has pled guilty to a wire fraud […]
The Nasdaq-listed cryptocurrency exchange Coinbase has disclosed that at least 6,000 users were victims of a hacking campaign to gain unauthorized access to the accounts of Coinbase customers. The hackers also took advantage of a flaw in Coinbase’s SMS Account Recovery process to gain access to user accounts. Cryptocurrencies of at Least 6,000 Coinbase Customers Stolen by Hackers Cryptocurrency exchange Coinbase reportedly informed over 6,000 customers this week that their accounts had been compromised and funds were removed. A copy of the letter is posted on the website of....
Nikhil Wahi and his brother Ishan were arrested and charged in July, while their associate Sameer Ramani remained at large at the time of publication. Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges.According to a Monday report from Reuters, Wahi admitted to authorities during a virtual hearing that he used confidential information obtained from Coinbase to make profits from trading crypto. Wahi’s brother Ishan worked as a product....
The former Coinbase employee and his brother have been arrested for insider trading at least 25 cryptocurrencies, but another defendant is still at large.