Illustration by Alex Castro / The Verge
What’s been called the first cryptocurrency-related insider trading case has resulted in prison time for one Nikhil Wahi, who pled guilty to conspiracy to commit wire fraud, according to Bloomberg and Reuters.
Last summer, Wahi was accused of getting information from his brother, a now-former project manager at Coinbase, and using it to buy coins before they were listed for sale on the popular exchange. This reportedly made him around $892,500 — which he’ll have to pay back according to the terms of his sentencing, in addition to spending 10 months in prison.
The case, brought on by the Southern District of New York, isn’t finished yet. Ishan Wahi, Nikhil’s brother who’s been accused of sharing information from Coinbase Asset Listing…
