OpenSea Employee Arrested in First NFT Insider Trading Case

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    The U.S. Attorney’s Office for the Southern District of New York announced the first-ever indictment for trading on inside information about digital assets at the beginning of this month.

    The indictment says that Nathaniel Chastain worked at OpenSea in 2021. As a project manager, Chastain was in charge of choosing the NFTs that would be shown on OpenSea’s homepage.

    Chastain is said to have bought NFTs before they were featured, or other NFTs by the featured creator, and then sold them after they were added to the OpenSea homepage and their value went up.

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