On May 3 in a New York federal court, the former OpenSea manager who was suspected of insider trading of NFTs was found guilty of wire fraud and money laundering. Prosecutors claim that former OpenSea product manager Nathaniel Chastain was responsible for selecting the NFTs that would be offered for sale on the platform. He allegedly made these choices, then acquired these NFTs to resell when they were highlighted. On June 1 he was charged with wire fraud and money laundering for these purported dealings.