Google engineer insider-traded search results on Polymarket, Feds allege
CoinDesk
Federal prosecutors charged a Google engineer with insider trading for betting on search trends using nonpublic data on the Polymarket platform.Summary
Michele Spagnuolo, a Google security engineer, has been arrested and charged with commodities fraud, wire fraud, and money laundering. Authorities allege he used internal Google data to place bets on Polymarket regarding the most-searched-for individuals. By accessing confidential information, Spagnuolo allegedly profited approximately $1.2 million and attempted to conceal his identity and the source of his funds through various digital transfers. This case marks another significant instance of alleged insider trading on the decentralized prediction platform.
(Source：CoinDesk)