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OpenSea Confirms Executive Used Insider Information to Snipe NFTs

The popular non-fungible token (NFT) marketplace confirmed Thursday that an employee of its bought NFTs they knew would be more valuable than others.

OpenSea Confirms Executive Used Insider Information to Snipe NFTs

What is next for OpenSea? 
OpenSea says they will be conducting “an immediate and thorough review of the incident,” in the hopes of understanding just what happened and what the next steps are in the process. Additionally, OpenSea has put a pair of new policies in place to avoid such situations in the future. First, no OpenSea members cannot buy or sell from collections or creators while OpenSea is actively promoting them. Second, team members are barred from using any “insider information” to buy or sell any NFT. This includes NFTs on other platforms as well as OpenSea. 

The statement from OpenSea concludes with a statement that reads “For a new, more open internet that empowers creators and collectors, we will need to bake in trust and transparency into all that we do.  We’re committed to doing the right thing for our users and earning back the trust of the community we serve.”

Source : beincrypto.com