Former Coinbase Executive Receives 2-Year Prison Sentence for Insider Trading

Former US Crypto Exchange Product Manager Arrested for Insider Trading and Wire Fraud

Ishan Wahi, a former product manager at a US-based cryptocurrency exchange, has been arrested and charged with insider trading and wire fraud.

According to authorities, Wahi provided his brother and an associate with insider information on upcoming crypto listings between June 2021 and April 2022. The two men allegedly used this information to make over $1 million in illicit profits.

The charges against Wahi were filed in July 2022. He is currently facing up to 20 years in prison for wire fraud and up to 10 years in prison for insider trading.

This case is a recent example of the ongoing concern over insider trading in the cryptocurrency industry. The nature of the industry’s rapid developments and the lack of regulation in certain areas have made it attractive to those who seek to profit through illicit means.

In response, some cryptocurrency exchanges and regulators have implemented measures to prevent insider trading, including enhanced monitoring and reporting requirements. However, as this case demonstrates, the risk of insider trading remains an ongoing challenge in the cryptocurrency world.


J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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