Insider Trading on OpenSea Crypto
OpenSea, the $1.5 billion start-up that's been on everyone's radar for its impressive growth rate, admitted today to insider trading by an employee who profited from their sale of NFTs before they were publicly available.
Rumours of Insider Trading
Rumours of insider trading at NFT marketplace OpenSea are true, according to a statement from the start-up
“Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” the company wrote in a blog post Wednesday.
OpenSea 'Incredibly disappointed'
In written statement, OpenSea called the incident “incredibly disappointing” and said that they are "conducting an immediate and thorough review."
The company has implemented two new employee policies, including a ban on OpenSea team members buying or selling from collections and creators while they are being featured by the business as well as preventing staff using confidential information to purchase NFTs whether available through our platform or not.