According to ME News, on May 28 (UTC+8), prosecution documents released by the U.S. Attorney’s Office for the Southern District of New York reveal that Google security engineer Michele Spagnuolo has been arrested and charged for allegedly using material non-public information to place bets on Polymarket markets related to Google search results. The documents state that Spagnuolo used internal Google tools to track the most-searched figures for 2025 and transferred approximately 3.8 million USDC to a Polymarket address; his associated account, AlphaRaccoon, placed a bet on D4vd becoming one of the most-searched figures by late November, just hours after accessing the internal tool. The documents also indicate that AlphaRaccoon withdrew 5 million USDC.e from the Polymarket account to a wallet, then moved the funds through exchange services and privacy tools, with portions ultimately reaching an account at a payment processing institution in Italy. Spagnuolo is alleged to have profited over $1.2 million from these transactions and now faces charges of commodities fraud, wire fraud, and money laundering. (Source: ODAILY)
Google security engineer arrested over alleged insider trading on Polymarket
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Summary
Google security engineer Michele Spagnuolo has been arrested for allegedly using non-public information to trade on Polymarket. On-chain data shows she deposited 3.8 million USDC into a Polymarket address and placed bets on D4vd becoming a top-searched person in late November. On-chain analysis reveals the funds were later transferred to an Italian payment processor. Spagnuolo faces charges of commodity fraud, wire fraud, and money laundering, with alleged profits exceeding $1.2 million.
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