With insights from Reuters on May 3, 2023, the ex-OpenSea manager accused for internal trading of NFTs has been held guilty for wire fraud and money laundering in a New York federal court, stated Cointelegraph.
Sources revealed Nathaniel Chastain, ex-product manager, OpenSea, was given the task of choosing the NFT that will be featured in the website of the nonfungible token platform, added Cointelegraph.
It is expected that the trail started on April 24, 2023, and was handled by lawyers who were experts in crypto-related issues. Some experts believe that the result of this case can impact the security value of NFTs, Cointelegraph highlighted.
As reported by Cointelegraph, on May 3, 2023, Daniel Filor commented in defense that Chastain was not guilty as “Nobody told Nate that he couldn’t use or share that information,” and wanted to close the statement.
(With insights from Cointelegraph)