One of the former executives of OpenSea, one of the most popular NFT platforms in the cryptocurrency ecosystem, has been accused of information fraud following the scandal in September 2021.
The US Department of Justice released a press release today about Nate Chastain, a former director of OpenSea.
According to the information in the announcement, Chastain Knows in advance which NFTs will be listed on OpenSea’s homepage and this information abuse for personal gain as well as committing other crimes such as money laundering. Talking about Chastain fraud and information abuse each of his crimes, Up to 20 years in prison can result in.
While working at OpenSea, Chastain changes the NFTs on the main page of the platform, at its own price at a price two to five times higher was selling. According to the statement made by the Ministry of Justice, Chastain made these transactions. anonymous wallets and again anonymous accounts used to hide his identity.
These transactions made by Nate Chastain on the OpenSea platform on September 2021 has come to light; Chastain left his job at OpenSea after this incident. 31-year-old Chastain later Oval He started working on a new NFT project called According to the Ministry of Justice’s statement, he arrested in New York today and will appear before the Southern District Court of New York.