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I hope they make it impossible for OpenSea staff to insider trade and wash trade. Well, I would hope that, but it seems that there’s no meaningful way for OpenS
by aspenmayer 5y ago
I hope they make it impossible for OpenSea staff to insider trade and wash trade. Well, I would hope that, but it seems that there’s no meaningful way for OpenSea to actually enforce such a ban. And this isn’t a hypothetical flaw in OpenSea. It is known that at least one employee (OpenSea’s former head of product, Nate Chastain) has done insider trading on OpenSea an unknown number of times, likely profiting 18.875 ether or more, which is over $50k. Not exactly small potatoes here. Worse is that he was front-running front page content before it went live on the homepage.
We desperately need the decentralized exchange (DEX) equivalent to the centralized exchange that is OpenSea. I could swear I heard about a DEX for NFTs, maybe someone in the comments has some links.
https://www.cnbc.com/2021/09/15/opensea-insider-trading-rumors-are-true.html https://www.cnbc.com/2021/09/15/opensea-insider-trading-rumo...