London-based fintech data analyst Boaz Sobrado said the OpenSea scandal shows us two things clear. First, the transparency of the blockchain makes it a powerful tool to monitor nefarious behavior, given that all trad “There’s a lot of chat about regulation right now, but what a lot of these bad actors are doing is clearly against the law right now. Regulators don’t need their powers expanded to be able to combat this sort of fraud and misleading statements,” Sobrado said. Sobrado noted that money is so loose in the space that people participating in the nefarious activity are neglecting the simplest steps to cover their tracks. “This, again, is indicative of the sort of wanton craziness that is going on in the sector right now,” he said. “While the going is good and everyone feels like they’re rich, it’s not spoken about as much. But as soon as the market turns down, a lot of these people are going to get exposed and a lot of people are going to be angry.
OpenSea Employee Arrested In The First Ever Insider NFT Trading Scandal
es are public and recorded forever. But until today’s arrest, regulators hadn’t done much with that information.
