OpenSea says employee resigned over NFT insider trading scandal

OpenSea said an employee resigned over allegations of insider trading, knowingly purchasing items before they were featured on the front page of the NFT marketplace. — REUTERS

OpenSea said an employee resigned after the operator of largest marketplace for nonfungible tokens learned that the person knowingly purchase items that they knew would be featured on the front page of the platform before being displayed for sale.

Twitter users earlier this week flagged questionable transactional activity involving Nate Chastain, head of product at OpenSea, to the company. Chastain didn’t respond to a request from Bloomberg News for comment.

OpenSea didn’t release the name of the employee who resigned. A Twitter account attributed to Chastain says "Past: @OpenSea.”