Nathaniel Chastain, who faces charges in connection with alleged front-running OpenSea users, says NFTs aren’t commodities or securities so he can’t be charged with insider trading.
Elliptic’s research found that an NFT scam netted the scammers $300,000 on average over the past year, with Bored Apes and OpenSea featuring prominently.
OpenSea has announced policy changes to combat the theft of NFTs, and while this is an excellent first step, the platform has yet to address its biggest problems.
Devin Finzer attributed the decision to the "crypto winter and broad macroeconomic instability," stating that they need to prepare the NFT company "for the possibility of a prolonged downturn."
An employee of Customer.io misused their employee access to download and share the email addresses of their users with an unauthorized external party, according to OpenSea.
The U.S. Department of Justice announced that it is prosecuting a former employee of Ozone Networks, Inc (OpenSea) with wire fraud and money laundering in connection with a scheme to commit insider trading in NFTs.
A Texas man has filed suit against OpenSea for damages after his rare Bored Ape NFT was sold without his consent on the platform, saying this was caused by an exploit that OpenSea was well aware of.