“Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” the company wrote in a statement . “This is incredibly disappointing. We want to be clear that this behavior does not represent our values as a team.”
Although OpenSea did not name the employee, the announcement comes following accusations on Twitter that Nate Chastain , the company’s head of product, used his position to purchase NFTs from lesser-known collections right before they were spotlighted on the marketplace’s main landing page.
According to information compiled by Twitter users Zuwu and ricefarmer.eth , and corroborated by others, Chastain’s main Ethereum wallet —which is linked to the CryptoPunk NFT that he uses as his Twitter avatar—is linked to other so-called “burner” wallets. These wallets were used to purchase numerous NFTs from projects like the Dailydust Collection and Lurk Loves You .
Hey @opensea why does it appear @natechastain has a few secret wallets that appears to buy your front page drops before they are listed, then sells them shortly after the front-page-hype spike for profits, and then tumbles them back to his main wallet with his punk on it?