Former Coinbase PM charged in cryptocurrency insider trading tipping scheme

Post by LordDragonfang » Thu, Jul 21, 2022, 4:59 PM UTC

rmbyrro wrote: post #91

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…

> Ethereum blockchain wallet “that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published.” It talks volumes that had they done this in a privately held network, it might have been harder to catch them. All the "blockchain is anonymous, hence it's made by and for fraudsters" is a total nonsense.

Post by lawn » Thu, Jul 21, 2022, 4:59 PM UTC

Ave wrote: post #85

biggc wrote: post #24

Didn’t a handful of Coinbase employees make out like bandits before Ethereum was listed? What’s changed since then?

You might be thinking of Charlie Lee? Charlie Lee joined Coinbase, wash traded Litecoin [1] to give the appearance of wider interest and volume in order to get Litecoin listed on Coinbase, and promptly dumped all his bags at the peak. [1] https://i.redd.it/u9vhbxvr63t71.jpg

Post by kwertyoowiyop » Thu, Jul 21, 2022, 5:01 PM UTC

Post by incone123 » Thu, Jul 21, 2022, 5:02 PM UTC

duxup wrote: post #125

rmbyrro wrote: post #109

Earlier quoted context omitted.

About a fraudster that was caught by a random person who could look at his fraud publicly, under the light of the sun. The part after "fraudster..." is what sets apart the blockchain and traditional financial networks, when it comes to fraud. If you commit fraud in the traditional financial system, only the financial institution has a chance to find it suspicious and tip the government agency responsible to investiga…

>is what sets apart the blockchain and traditional financial networks, when it comes to fraud Are you telling me that fraudsters get caught on the blockchain more than other places?

Post by time_to_smile » Thu, Jul 21, 2022, 5:04 PM UTC

notch656a wrote: post #4

modeless wrote: post #2

The amounts in these insider trading schemes always seem small to me. $750k per person? If I had advance knowledge of all Coinbase listing announcements I'm pretty sure I could make more than that!

I mean one of the dudes was flying to india. 750k is probably enough to buy some rural property there and live the rest of your life off interest. The less money, the less radar signature.