this post was submitted on 28 May 2026
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[–] bamboo@lemmy.blahaj.zone 1 points 45 minutes ago

Interesting bit from the court docs of how they traced it to him:

Based on cryptocurrency tracing analysis performed by FBI personnel, I have learned the following, among other things: on or about November 12, 2025, and November 13, 2025, in a total of approximately three transactions, Wallet-0xAf6 sent a total of approximately $149,980 of cryptocurrency to particular cryptocurrency swapping service (“Swapping Service- 1”).2,3 Based on documents from Swapping Service-1, I have learned that shortly after those three transactions, Swapping Service-1 sent approximately $149,980 of cryptocurrency to a particular cryptocurrency payment processor (“Payment Processor-1”). Based on documents from Payment Processor-1, I have learned that the November 12 and 13, 2025 transactions were received by account in the name of “Michele Spagnuolo,” and that an Italian Government identification card was used to open the account at Payment Processor-1. A copy of that identification card, which I have reviewed, appears to be a government identification card for MICHELE SPAGNUOLO, a/k/a “AlphaRaccoon,” the defendant.

Seems like whatever swapping service he used is what got him as he probably assumed that they wouldn't comply with law enforcement or have detailed records.

[–] ushmel@piefed.world 13 points 2 hours ago

Insider trading? Did they update finance laws to cover gambling?

[–] KindnessIsPunk@lemmy.ca 102 points 4 hours ago (1 children)

Yeah only the president of the United States is allowed to do that

[–] Buffalox@lemmy.world 57 points 4 hours ago (1 children)
[–] halfapage@lemmy.world 37 points 4 hours ago (1 children)

And all of Congress.

Charged with doing the same thing the entire government does, every board member does. And every rich fuck does.

[–] devolution@lemmy.world 37 points 4 hours ago (4 children)

so a Google worker gets charged for making 1.2 million on bets but the Google CEO is OK with data centers that illegally suck water and electricity and engaging in surveillance activity with Palantir.

Makes sense to me. 🙃

[–] limonfiesta@lemmy.world 11 points 3 hours ago* (last edited 3 hours ago) (1 children)

Makes sense to me

Because insider trading is still sometimes illegal.

But multinational corporations raping the environment and helping to build a dystopian surveillance state is not only legal, but incentivized and rewarded by the state.

Only when the poors do it.

[–] lemmyng@lemmy.world 2 points 2 hours ago

Rules for thee, not for me.

[–] axh@lemmy.world 5 points 4 hours ago

Google CEO is OK with data centers that illegally suck

Yeah, I am pretty sure CEO also uses that data for bets, but they call it investments and praise him for it.

[–] roserose56@lemmy.zip 1 points 3 hours ago

Its USA, and you know what, no one cares.

[–] someguy3@lemmy.world 4 points 2 hours ago (1 children)

The court papers said Spagnuolo's most lucrative alleged Polymarket wins were correctly predicting who would and would not be the most searched for person on Google in 2025.

He allegedly placed bets against names, like Bianca Censori and President Donald Trump, and chose the singer D4vd as taking the top spot when the betting platform had odds of that result being near zero.

[–] brave_lemmywinks@lemmy.world 15 points 4 hours ago

Non ironically, all he had to do is donate a part of it to someone in the trump family.