A Google security engineer was arrested and charged after allegedly using confidential Google search-trend data to place profitable bets on Polymarket. Prosecutors say Michele Spagnuolo hid his activity through cryptocurrency transfers and account changes while trading on outcomes tied to Google’s Year in Search information. #Google #MicheleSpagnuolo #Polymarket #YearinSearch #AlphaRaccoon
Keypoints
- Michele Spagnuolo was arrested in New York and charged with crimes tied to insider trading.
- He allegedly used nonpublic Google Year in Search data to bet on Polymarket outcomes.
- Prosecutors say his trades generated more than $1.2 million in profit.
- He is charged with violating the Commodity Exchange Act, wire fraud, and money laundering.
- Authorities say he tried to conceal the source of funds and his identity through crypto transfers and account changes.
Read More: https://cyberscoop.com/google-security-engineer-insider-trading-polymarket/