An employee of the cryptocurrency exchange Coinbase was charged with fraud in the United States

The U.S. Securities and Exchange Commission (SEC) and the New York prosecutor’s office have arrested a former product manager of the crypto exchange Coinbase — the ex-employee is suspected of passing confidential information to third parties.

According to law enforcement agencies, former Coinbase employee Ishaan Wahi disclosed confidential information of Coinbase to his brother and friend Nikhil Wahi and Samir Ramini. The suspect provided illegal financial advice to his accomplices and recommended when and which tokens to buy.

According to insiders, charges will also be brought against Nikhil Wahi and Samir Ramini, who used illegal financial advice to trade cryptocurrencies from June 2021 to April 2022, making a profit of more than 1 million.

Obviously, cryptocurrency platforms should choose their employees more carefully, as the Coinbase story is not the only one. Recently, an employee of Customer. io, a company that cooperates with OpenSea, illegally used his own access to the email addresses of marketplace users. The attacker downloaded all email addresses to his database and transferred them to a third party.