A New York District Court has ordered Nikhil Wahi, the brother of former Coinbase product manager Ishan Wahi, to pay the cryptocurrency exchange nearly $470,000 in restitution for his involvement in an insider trading scheme. Nikhil was found guilty of initiating trades based on confidential information obtained from his brother, who was privy to when the exchange would list new cryptocurrencies.
Nikhil made a profit of $892,500, which he must forfeit to the US government, and is currently serving 10 months in prison for wire fraud conspiracy charges. The restitution amount must be paid in full within 20 years of Nikhil’s release from prison.
