OpenSea NFT Marketplace claims that employees benefited from insider information -

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On September 15, OpenSea, the leading marketplace for non -fungible tokens (NFT), announced that a manager of Openea benefited from the insider trade. "Yesterday we learned that one of our employees bought articles that he knew on our front page before appearing there publicly," said Openea on Wednesday. OpenSea did not name the employee, but social media contributions accused an Openea manager on Tuesday to use "secret wallets".

OpenSea team says that NFT market operators are "incredibly disappointed"

open sea the leading NFT market is a volume of 519.51 million US dollar dappradar.com-statistics . While the volume is decent, it has dropped by 48.20% last week in terms of sales. Meanwhile, the number of OpenSA retailers rose by 6.10% to 164,878 traders last week. On Wednesday, the OpenSea management team is accused of using an employee and benefit from it.

"Yesterday we learned that one of our employees bought articles that he knew on our front page before appearing there in public," says OpenSea's explanation. "This is incredibly disappointing. We want to make it clear that this behavior does not represent our values ​​as a team."

OpenSea implemented new guidelines for employees

According to the marketplace operators, they carry out an “immediate and thorough review of this incident”. The company wants to achieve a "complete understanding" of how this happened and passes through. The popular NFT marketplace OpenSea added that the company introduced some new guidelines, such as:

  • OpenSA team members must not buy or sell collections or creators while we present or apply them (e.g. on our homepage); and
  • OpenSA team members, it is prohibited to use confidential information on the purchase or sale of NFTs, regardless of whether they are available or not.

On September 14th, the Twitter account @zuwutv tweeted via an employee who uses "secret tobits" to buy drops on the front page. "Hey, OpenSea", Zuwutv tweeted . "Why does it appear? @Natechatain has a few secret items that seem to buy their front page drops before they are listed, then sell them shortly after the hype tip for profits and then with its punk Back to his main money exchange?

The problem with insider information in auctions and sales on the NFT market is that the prices of NFTS can generally be susceptible to manipulations. Bitcoin.com News has Cover the topic from manipulated NFT and -Clections. In this report, Shill Bidding was discussed and how Shill Bidding can have a negative impact on NFT auctions and auctions.

While social media contributions accused a manager of the insider trade, Openea did not name the accused employee in the explanations made on Wednesday. OpenSea explains that the appearance of a alleged employee who manipulates NFT sales shows the commitment of the market to protect the trustworthiness of the NFT industry.

"For a new, more open internet that enables creators and collectors, we have to incorporate trust and transparency in everything we do," concluded the explanations from Openea. "We endeavor to get the right thing for our users and to regain the trust of the community we serve."

What do you think of OpenSea’s problem with an employee who was supposed to be trading with NFTs? Let us know your opinion on this topic in the comments below.

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