News Explorer — Ex-OpenSea Exec Receives 3-Month Sentence in NFT Insider Trading Case

Ex-OpenSea Exec Receives 3-Month Sentence in NFT Insider Trading Case

Nathaniel Chastain, the former head of product at OpenSea, has been sentenced to three months in prison for using inside knowledge to profit from flipping assets on the NFT marketplace. Chastain was convicted of fraud and money laundering and had potentially faced up to 20 years in prison for each charge. He was accused of illegally making over $50,000 in profit from trading NFTs and has been ordered to return his ill-gotten gains.

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