NFT platform OpenSea takes action over insider trading executive

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An executive at OpenSea, presently the largest platform for NFT dealing, has left the company amidst the discovery of insider trading,


A person at the firm was found to have profited from trades of NFTs based on inside information, OpenSea revealed in a blog post, and it had asked for and received that employee’s resignation.


In its statement, OpenSea said that an employee had bought items before they were due to be displayed publicly on OpenSea.


It added that its team members are forbidden from buying or selling NFTs while the platform is featuring or promoting them and they are also prohibited from using confidential information to purchase or sell any NFTs whether they are on the OpenSea platform or not.


“We have a strong obligation to this community to move it forward responsibly and diligently,” OpenSea said, whilst adding: “As a marketplace at the forefront of this new space, we want OpenSea to be a level playing field for buyers, sellers, creators, collectors, developers, and those who are new to the space.”

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