OpenSea employee used insider trading to buy NFTs

OpenSea CEO Devin finzer has confirmed in a company blog post that one of the company’s employees had used insider trading methods to purchase NFTs (Unique digital tokens linked to art).In the blog post, finzer added that the discovery was “incredibly disappointing” and didn’t represent the team’s core values.


OpenSea, which did a record-smashing $3.4 billion in transaction volume the previous month, appears not to have any sort of rules in place that prevents employees from accessing confidential information that allows them to buy or sell NFTs on its own platform or to its own users. But later on, the company did announce they enforcing a policy where team members are banned from buying or selling “From collections or collectors while we are promoting them” while ” being prohibited from using confidential information to purchase or sell any NFTs, whether available on the open sea platform or not”

The insider trading came to light thanks to twitter user @ZuwuTV who is a moderator on an etherium blockchain


What do you think about this whole controversy?