The US Department of Justice and Federal Bureau of Investigation announced the first-of-its kind indictment of an “insider trading” scheme involving non-fungible tokens (or NFTs).
- A former employee of an online marketplace for NFTs allegedly used confidential business information for personal financial gain.
- The charged individual used new blockchain technologies to conceal the proceeds of the alleged illicit activity.
- The DOJ brought charges without characterizing NFTs as securities.
