NFT breeding ground of scandals: OpenSea employee pinched into illegal trading


HDBlog.it

Maybe not everyone knows OpenSea : it is one of the most important marketplaces in the world in the field of non-fungible tokens (NFT), fresh from a loan of 100 millions of dollars which led it to be valued as much as 1.5 billion dollars. Well, could not miss a scandal in this young – and thriving – sector , which directly concerns the platform led by CEO Devin Finzer.

Let’s clarify things immediately: OpenSea is the injured party , and has no responsibility for what happened. In fact, one of its executives went far beyond the lawful, exchanging NFTs ahead of time and in a personal capacity before they were advertised and promoted on the site’s home page. In practice, the employee used secret crypto wallets to buy the NFTs before they were officially put on the market , then reselling them at a higher price.

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OPENSEA’S RESPONSE

We have learned that one of our employees has purchased items that he knew would be listed on our home page, before they were publicly displayed “. Thus begins the post on the company blog, written by a CEO Devin Finzer embittered by what happened and who immediately distances himself from the employee (ex, one would assume). The episode is under investigation. OpenSea then reminds us that:

  • team members cannot buy or sell from collections or creators as long as the NFTs are presented on the home page
  • employees cannot in any way use confidential company information to buy or sell NFTs whether they are proposed or not. on the OpenSea platform

Credits opening image: OpenSea.io


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