{"id":78259,"date":"2023-05-04T09:38:37","date_gmt":"2023-05-04T06:38:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78259"},"modified":"2025-09-11T03:58:56","modified_gmt":"2025-09-11T00:58:56","slug":"court-finds-former-opensea-product-director-guilty-of-insider-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/court-finds-former-opensea-product-director-guilty-of-insider-trading\/","title":{"rendered":"Court finds former OpenSea product director guilty of insider trading"},"content":{"rendered":"<p>Former product director of the <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-nfts\">NFT<\/a>-marketplace OpenSea, Nathaniel Chastain, has been found guilty of insider trading. <a href=\\\"https:\/\/www.reuters.com\/legal\/ex-opensea-manager-convicted-nft-insider-trading-case-2023-05-03\/\\\">Reuters<\/a> reports.<\/p>\n<p>\\n\\n<\/p>\n<p>He was <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-authorities-charge-former-opensea-manager-with-insider-trading\">arrested<\/a> on June 1, 2022, on suspicion of wire fraud and money laundering. Chastain pleaded not guilty.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&quot;He abused his position at <a href=\"https:\/\/u1f987.com\/en\/news\/why-opensea-is-the-most-popular-nft-marketplace\">OpenSea<\/a> to line his own pockets, and lied to cover his tracks,&quot; the prosecutor said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Chastain was charged with purchasing NFTs that he subsequently listed on the marketplace&#8217;s site, earning more than $50,000 from their sale. The prosecution said he used anonymous accounts to carry out illegal trades.<\/p>\n<p>\\n\\n<\/p>\n<p>Efforts by Chastain&#8217;s legal team to dismiss the suit or drop the fraud charges were unsuccessful.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier in April, New York law enforcement <a href=\"https:\/\/u1f987.com\/en\/news\/former-jpmorgan-employee-charged-in-cryptocurrency-fraud-case\">detained<\/a> former JPMorgan and Deutsche Bank broker Rashona Russell on suspicion of digital-asset fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former OpenSea NFT marketplace product director Nathaniel Chastain has been found guilty of insider trading.<\/p>\n","protected":false},"author":1,"featured_media":78260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1265,1246],"class_list":["post-78259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-opensea","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78259"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78259\/revisions"}],"predecessor-version":[{"id":78261,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78259\/revisions\/78261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78260"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}