While the Solana network had to stop block production due to some troubles in the last minute developments in the cryptocurrency market, US prosecutors are accusing the former employee of OpenSea in the first NFT insider trading case.
Solana network has failed again and has been stopped!
Solana network, which is seen as an Ethereum competitor, but could not get rid of network problems, stopped block production due to some problems experienced again. After that, the Solana group summoned validators to the Discord channel to get the network back on track. As you can follow from
Kriptokoin.com news, Solana is not experiencing the network issue for the first time. Before the last stop, the network was closed 7 times. For Solana, which is said to be a competitor to the strongest altcoin Ethereum, these shutdowns started to cause significant problems and caused it to become a goal that was criticized by crypto experts and communities.
At the time of writing, Solana was trading at $41.50 with a loss of 8.75% in the last 24 hours, according to CoinMarketCap information. The altcoin is 84% away from its all-time high of $260, which it saw about 7 months ago.
Former OpenSea employee indicted in first NFT insider trading case
US prosecutors in Manhattan on Wednesday announced OpenSea, the largest online marketplace for Non Fungible Tokens (NFTs) He is accused of insider trading, the first case of this kind involving digital assets.
31-year-old Nathaniel Chastain from Manhattan is accused of secretly purchasing 45 NFTs on 11 different occasions, based on covert information that tokens, or just like creator-related gluttons, will soon appear on OpenSea’s homepage.
Prosecutors say Chastain chose which NFTs to show and sold his NFTs shortly after publication, typically for two to five times the price he paid. In one case, they say, Chastain more than quadrupled his money by buying NFT “Spectrum of a Ramenfication Theory” on September 14, 2021 and selling it early the next morning.
Arrested Wednesday, Chastain is charged with electronic fraud and money laundering, each with sentences of up to 20 years in prison. His lawyer did not respond to requests for comment. OpenSea said of Chastain, “When we learned of Nate’s behavior, we launched an investigation and eventually asked him to leave the company. “His behavior violated our employee policies and was in direct conflict with our core values and elements.”