Former Coinbase PM charged in cryptocurrency insider trading tipping scheme

Post by [deleted] » Thu, Jul 21, 2022, 7:14 PM UTC

pjc50 wrote: post #90

vishnugupta wrote: post #56

It talks volumes about the internal controls at CB that it took a tweet to expose this. Given the speed with which they grew last two years I expect their financial and security processes to be next to nothing. This is just tip of an iceberg. Insiders would have made tens of millions over last two years of bull run, if not more. This dude just got greedy and unlucky to get caught just as the crypto bubble began burst…

A lot of people suspect there's ""official"" insider trading at the exchanges; there's no reason for the exchange not to front-run orders or fake the order book if they think they can get away with it. Or trade against heavily leveraged positions to liquidate them. Or prop-trade with the customers' money.

Post by _5uxp » Thu, Jul 21, 2022, 7:20 PM UTC

Post by paulpauper » Thu, Jul 21, 2022, 7:33 PM UTC

SilasX wrote: post #213

romellem wrote: post #16

Wow, the indictment references [this tweet][1] that caused Coinbase to investigate the matter and ultimately led the defendant in being caught at the airport before trying to leave the country. > On May 11, 2022, Coinbase’s director of security operations emailed ISHAN WAHI to inform him that he should appear for an in-person meeting relating to Coinbase’s asset listing process at Coinbase’s Seattle, Washington offic…

Haha, and the first reply to that tweet is complaining that the SEC is ignoring this while shackling another Coinbase venture. That didn't age well! https://twitter.com/ChainLinkGod/status/1513926481486909442 Edit: Quoting in case it gets deleted: >>While the SEC was very swift in shutting down Coinbase Lend for DARING to provide 4% yield >>They’ll do absolutely nothing about this situation because they are a corrupt…

Post by jamiek88 » Thu, Jul 21, 2022, 7:39 PM UTC

lizardactivist wrote: post #19

There's been a lot of shakedowns and refurnishings in the crypto landscape lately. The US seems to catch or point fingers at people left and right. Why is this happening now all of a sudden?

Post by kepler1 » Thu, Jul 21, 2022, 7:40 PM UTC

zionic wrote: post #76

romellem wrote: post #16

Wow, the indictment references [this tweet][1] that caused Coinbase to investigate the matter and ultimately led the defendant in being caught at the airport before trying to leave the country. > On May 11, 2022, Coinbase’s director of security operations emailed ISHAN WAHI to inform him that he should appear for an in-person meeting relating to Coinbase’s asset listing process at Coinbase’s Seattle, Washington offic…

Wow, not that I would ever do anything like this… but if I was accused of such a thing the last thing I would do is book a flight for tomorrow .