Google security engineer accused of turning confidential search trends into $1.2M win on Polymarket
Google security engineer accused of turning confidential search trends into $1.2M win on Polymarket
https://cyberscoop.com/google-security-engineer-insider-trading-polymarket/
Publish Date: 2026-05-28 14:13:35
Source Domain: cyberscoop.com
Summary:
A Google security engineer, Michele Spagnuolo, has been arrested and charged for leveraging confidential internal data to place bets on Polymarket, a prediction marketplace, resulting in substantial profits of over $1.2 million. Spagnuolo, a Swiss resident of Italian origin, allegedly exploited his access to Google’s nonpublic Year in Search data, trading on the most searched topics for 2025. Charged with violations of the Commodity Exchange Act, wire fraud, and money laundering, Spagnuolo faces a maximum sentence of up to 50 years in prison. The Commodity Futures Trading Commission is also seeking restitution and penalties against him. Google, currently investigating the case, placed Spagnuolo on leave, stressing the serious breach of company policies. Investigators revealed Spagnuolo took steps to conceal his actions and used cryptocurrency to mask the sources and ownership of his gains.
Key Points:
- Insider Trading: Michele Spagnuolo used confidential Google data to profit from bets on Polymarket.
- Legal Consequences: Spagnuolo is charged with multiple crimes, facing up to 50 years in prison.
- Corporate Discipline: Google has suspended Spagnuolo and is cooperating with law enforcement.
- Financial Gains: Spagnuolo reportedly made more than $1.2 million through the alleged insider trading.
- Cover-Up Efforts: Spagnuolo attempted to disguise his transactions through cryptocurrency operations.
