A crypto trader accused of using illicit tips from his brother, who worked at exchange operator Coinbase Global, was ordered to pay $469,525 in restitution as part of a plea agreement approved by a Manhattan federal court.
Nikhil Wahi must pay that amount to Coinbase, which was “the victim of the offenses,” U.S. District Judge Loretta Preska wrote in an order made public Monday. The amount awarded to Coinbase represents the amount the company spent on legal fees and other costs to comply with the Justice Department’s investigation, according to court records.
Mr. Wahi was earlier sentenced to 10 months in prison and ordered to forfeit $892,500 in illegal trading gains.
Source: Coinbase Awarded Nearly $470,000 in First Crypto Insider Trading Case