A Google security engineer, Michele Spagnuolo, has been charged with insider trading after allegedly using confidential internal data from Google's 'Year in Search' tool to place bets on the Polymarket decentralized prediction market. Operating under the alias 'AlphaRaccoon,' he reportedly wagered around $2.75 million and won approximately $1.2 million in USDC.e. The FBI traced the account to Spagnuolo after online communities suspected a Google insider. He then allegedly laundered proceeds through cryptocurrency-swapping services. He now faces up to 20 years each on wire fraud and money laundering charges, plus a separate CFTC civil complaint.
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