You know, looking at the history of financial scandals, the famous insider trading cases have always fascinated me. It’s crazy to see how even with regulators like the SEC involved, some of the biggest violations still managed to develop. It reminds us of something in crypto, doesn’t it?

Let’s start with Ivan Boesky in the 1980s. This guy was a respected arbitrageur on Wall Street who ended up accumulating over $200 million in illegal profits. How? By exploiting confidential information obtained from investment bankers. His case was pivotal in exposing systemic corruption on Wall Street and even led to the downfall of Michael Milken. Boesky eventually cooperated with federal authorities, served three years in prison, and paid a $100 million fine.

But the case that really struck me is that of Raj Rajaratnam and his Galleon Group in 2009. This guy orchestrated one of the largest insider trading rings ever uncovered. He had a vast network of insiders at Intel, IBM, McKinsey, and made $70 million in illegal profits. What was revolutionary in his case was the use of wiretaps—a technique rarely used for white-collar crimes at the time. Result: 11 years in prison.

Now, famous insider trading cases weren’t limited to hardcore traders. Martha Stewart got involved with ImClone Systems in 2001. She sold nearly 4,000 shares just before the FDA rejected the company’s cancer drug. Although she wasn’t convicted of insider trading itself, she was found guilty of obstruction of justice and making false statements. Five months in prison for a cultural icon—that shocked everyone.

In the same vein, Sam Waksal, CEO of ImClone, was the real central figure. He tried to sell his family’s shares and warned others before the FDA’s negative decision on Erbitux became public. Seven years in prison for him.

And then there’s Jeffrey Skilling of Enron. This guy sold about $60 million worth of stock based on confidential information about the energy giant’s impending bankruptcy. His actions were part of a broader fraud scheme. In 2006, he was sentenced to 24 years—later reduced to 14.

R. Foster Winans, a Wall Street Journal journalist, also had his infamous moment in 1985. He leaked upcoming stories from his “Heard on the Street” column to brokers who made profitable trades before the information went public. Eighteen months in prison for this relatively simple but impactful scheme.

And then there’s the case of Steven A. Cohen with SAC Capital Advisors in 2013. Cohen is one of the most successful hedge fund managers in history, but his firm was fined $1.8 billion for insider trading. Eight SAC employees were convicted. This case showed how deeply insider trading can be rooted in high-frequency institutional investments.

The interesting thing about all these famous insider trading cases is that they reveal a universal truth: no matter the sector or era, when there’s money and asymmetric information, the temptation is huge. It’s a lesson that crypto should really take to heart.