It's called <open>AI.
https://news.kalshi.com/p/kalshi-trading-violation-enforceme...
https://x.com/polymarketmoney/status/2001056273500954784?s=4...
The vast majority of insider trading schemes are not prosecuted, many leave no evidence trail at all without going deep into black-op classified territory.
Note that “insider trading” is not illegal on prediction markets. The particular issue here is that the employee “disclosed” confidential information on a public forum by influencing the prices assigned to certain outcomes by prediction markets.
I wrote about why prediction markets have a structural insider trading problem that nobody's solved yet: https://philippdubach.com/posts/the-absolute-insider-mess-of...
xrd•2h ago
It makes you think that if you were able to surreptitiously add malicious side channel software into a popular npm package that you wouldn't just need to hunt for crypto wallets with balances.
You could also probably find a market for crypto wallets with small balances or zero balances. The history and date of creation would be the value to some.
This openai employee should have gone on the dark web to buy older addresses to cloak their activity.
It's sad to say that almost all crypto use cases point to fraud. I'm excited about crypto and there is some fascinating research around anonymous transactions (like zcash). But, that real utility is always overshadowed by the actions of charlatans or worse.
0x3f•1h ago
xrd•1h ago
0x3f•1h ago
Although I would argue that even this doesn't have much value. It's not a big problem that people know "there exists an insider at OpenAI". There are plenty of employees there that shield you from being discovered.
In fact it would be so difficult to find this person among them, assuming the most basic opsec, that I'm highly skeptical they actually fired anyone. I would sooner assume this is just an announcement designed to discourage the behavior, since no specifics are provided.
xrd•52m ago
dontknowbtc•1h ago
tell me you don’t understand crypto without telling me you don’t understand crypto.