Former Coinbase employee sentenced to two years in prison in first Crypto insider trading case

Former Coinbase  employee Ishan Wahi, who previously pleaded guilty to conspiracy to commit wire fraud. was sentenced to two years in prison for his role in the first-ever insider-trading case involving cryptocurrency. Wahi tipped gave his brother and friend to confidential information he got at his job at the crypto exchange. They used the information to trade on digital tokens, making nearly $1.5 million in profits, according to federal prosecutors from the Manhattan U.S. attorney’s office..Mr. Wahi, who is from India, tried to flee the country when he learned he was under investigation. She ordered him to surrender to prison no later than June 21. Mr. Wahi’s brother, Nikhil Wahi, previously pleaded guilty to one count of conspiring to commit wire fraud and is serving 10 months.

Jeffrey Newman is a whistleblower lawyer who represents whistleblowers in SEC and FCA cases. He can be reached at Jeff@JeffNewmanLaw or at 617-823-3217