Ex-Coinbase Manager nabbed by US security operatives

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Federal prosecutors in Manhattan have brought their first ever case for insider-trading in digital coins, charging a former Coinbase Global product manager, Ishan Wahi with leaking information to aid his brother and a friend buy tokens just before they were listed on the exchange.

Ishan Wahi was arrested on Thursday, he helped oversee listings for a Coinbase unit focused on investment products, follows a sweeping probe involving the Southern District of New York and the Securities and Exchange Commission. The Security and Exchange commission  also alleged Wahi violated the agency’s anti-fraud rules.

“Today’s charges are a further reminder that Web3 is not a law-free zone,” Manhattan US Attorney Damian Williams said in a statement. “Our message with these charges is clear: fraud is fraud is fraud, whether it occurs on the blockchain or on Wall Street.” He added that Coinbase had cooperated with the probe.

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