According to CoinDesk, Google security engineer Michele Spagnuolo used internal search data to place bets on Polymarket, being accused of involving approximately $3.8 million in bets and profiting over $1.2 million. He placed early bets through the AlphaRaccoon account and used internal information to predict popular figures. To conceal the flow of funds, he used exchange services and privacy tools, with some funds entering Italian payment service accounts. He is charged with commodity fraud, telecommunications fraud, and money laundering, marking another insider trading case following the Maduro incident. Google has suspended him and is cooperating with the investigation.

MarsBitNews

2026-05-28 00:26:02

Abstract generation in progress

Mars Finance News, according to CoinDesk reports, U.S. federal officials stated on Wednesday that Google security engineer Michele Spagnuolo was arrested for allegedly using internal Google search data to place bets on Polymarket. Since last fall, after Polymarket launched the "2025 Most Searched Person on Google" prediction market, Spagnuolo obtained non-public information about which individuals had the highest search volumes through internal Google tools, then controlled an account named "AlphaRaccoon" to place early bets involving approximately $3.8 million. For example, before rapper D4vd became a news focus due to suspected murder charges, Spagnuolo had already discovered a surge in his search volume via internal tools and bet on him reaching the top, ultimately profiting over $1.2 million. To conceal the flow of funds, Spagnuolo transferred money through exchange services and privacy tools, with some funds eventually deposited into an account opened using his personal identification at an Italian payment processor. Spagnuolo faces charges of commodity fraud, telecommunications fraud, and money laundering. This is the second insider trading case involving prediction markets after an American Army soldier bet on his own participation in the Maduro raid operation. Google stated that the employee has been suspended and is cooperating with the investigation.

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LimitOrderAtTheCrater

· 3h ago

Italian payment provider account, the fund flow is quite circuitous.

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ProofOfSnack

· 3h ago

The security engineer's insider theft is a full-blown satire.

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GateUser-047cb6fc

· 3h ago

Google cooperating with the investigation, internal compliance probably needs to be upgraded.

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SummerNightColdWallet

· 3h ago

Product fraud + telecom fraud + money laundering, all three together.

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GateUser-0b71fc11

· 3h ago

A betting scale of 3.8 million, you must be so confident to go all in.

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DaoBackbencher

· 3h ago

Suspension is just the beginning, wait for the verdict.

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IdleFishDaoMember

· 3h ago

Place bets early on popular figures, using search data as an oracle.

View OriginalReply0

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