OpenSea, the biggest NFT trading marketplace, said today that one of its employees used internal information to buy NFTs that were about to be featured on its homepage — and likely spike in value. Accusations were made against OpenSea’s head of product, Nate Chastain, last night after a community member publicized suspicious transactions from his wallet. According to another user, ricefarmer.eth, the account purchased four NFTs by artist Dailydust, one titled “Spectrum Of A Ramenfication Theory,” which OpenSea directly featured soon afterward. OpenSea has not confirmed which NFTs were traded on using internal information. As the NFT community picked up on ZuwuTV’s investigation last night, he posted more transactions suggesting that the front running behavior could have begun as early as last month.

Source: The Nation September 15, 2021 19:07 UTC