According to the information provided by Reuters, Nikhil Wahi pleaded guilty in court on the grounds that he had committed fraud in the USA.
US Department of the Treasury, Nikhil Wahi and Ishan Wahi accused the brothers of fraud and insider trading at the end of July, the two were arrested at the same time.
Ishan Wahi, a former product manager of Coinbase, one of the world’s largest cryptocurrency exchanges, is listed on Coinbase according to the accusations of the US Treasury Department. name of at least 14 cryptocurrencies before listing Gained profit by sharing it with others.
Nikhil Wahi, Ishan’s brother and accused of fraud, admitted the charges against him in court.
This lawsuit against one of Coinbase’s former directors is significant as it is the first insider trading case in the United States in connection with cryptocurrencies.