Abstract

This article explores insider transactions in digital asset markets, highlighting their risks, detection challenges, and regulatory responses. Insider trading in crypto arises when individuals exploit material non public information (MNPI) such as token listings, governance votes, or unlock schedules to gain unfair advantage. Empirical studies show that between 28-48% of token listings exhibit pre listing insider trades, generating tens of millions in illicit profits. High profile cases, including SEC v. Wahi (2022) and U.S. v. Eisenberg (2024) , illustrate how ...