Kevin

<p class="is-style-lead">OpenSea says it has “no awareness” of any involvement of its former executive in dubious business practices.</p>
<p>OpenSea, a non-fungible token (<a href="https://crypto.news/tag/nft/" data-type="link" data-id="https://crypto.news/tag/nft/" rel="noopener noreferrer nofollow">NFT</a>) marketplace where people can buy or sell digital collectibles, has once again become controversial after an X account revealed that the marketplace’s former executive was involved in “dubious” business practices.</p>
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   <p lang="en" dir="ltr">1/ Dear <a href="https://twitter.com/opensea?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@OpenSea</a>, what do you think of the fact that your Head of Ventures, Kevin Pawlak, has been involved in various very dubious business dealings (e.g. Anubis) and pump &amp; dump schemes under his pseudonymous identity <a href="https://twitter.com/0xSisyphus?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@0xSisyphus</a> (&amp; 0xMagellan)? <a href="https://t.co/GzIVLJirLE" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/GzIVLJirLE</a></p>— NFT Ethics (@NFTethics) <a href="https://twitter.com/NFTethics/status/1710278757817164213?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 6, 2023</a>
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<p>According to NFT Ethics, OpenSea’s former head of ventures, Kevin Pawlak, <a href="https://twitter.com/NFTethics/status/1710278757817164213?s=20" target="_blank" rel="noopener noreferrer nofollow">has been involved</a> in multiple “very dubious business dealings,” pump and dump schemes, and conflicts of interest under his pseudonymous identity 0xSisyphus, which is also known as one of the key influencers of an alleged <a href="https://crypto.news/possible-identities-of-anubisdao-rug-pull-suspects-revealed/" target="_blank" rel="noopener noreferrer nofollow">$60 million rug pull</a> AnubisDAO.</p>
<p>NFT Ethics says Pawlak reportedly tried to influence decisions at OpenSea “using his account without disclosing that he was an actual employee who would benefit from those decisions.”</p>
<p>Having checked the timestamps on Pawlak’s crypto domain (pawlak.eth) and 0xSisyphus (sisyphus.eth), NFT Ethics found out that addresses “perfectly match” as they both conducted on-chain activity almost simultaneously.</p>
<p>You might also like: <a href="https://crypto.news/opensea-to-deactivate-its-royalty-enforcement-system/" rel="noopener noreferrer nofollow"> OpenSea to deactivate its royalty enforcement system </a></p>
<p>Lookonchain, an X account focused on blockchain analytics, <a href="https://twitter.com/lookonchain/status/1710952420774383804?s=20" target="_blank" rel="noopener noreferrer nofollow">shares</a> the theory about Pawlak, saying the OpenSea executive “is one of the largest PnD (Pump and Dump) in the field and is involved in market manipulation and scams.”</p>
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   <p lang="en" dir="ltr">5/<br><br>In addition, many people have confirmed that Sisyphus is indeed Kevin Pawlak, including The Block journalist <a href="https://twitter.com/Timccopeland?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Timccopeland</a>. <a href="https://t.co/AtFkTSLMsP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/AtFkTSLMsP</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1710952418455035934?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 8, 2023</a>
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<p>A spokesperson for OpenSea said in a <a href="https://cointelegraph.com/news/opensea-kevin-pawlak-sisyphus-accused-rug-pull" target="_blank" rel="noopener noreferrer nofollow">commentary</a> to the media that Pawlak left the company in June 2023. The firm claims it is unaware of Pawlak’s involvement in scam schemes, noting he had a “limited scope” while working at OpenSea.</p>
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 <p>“Furthermore, we have no connection to, or information about, the projects in question, as they took place before his time at OpenSea.”</p> <cite>OpenSea representative</cite>
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<h2 class="wp-block-heading" id="opensea-s-troubled-execs">OpenSea’s troubled execs</h2>
<p>For OpenSea, this is the second time the firm has faced criticism over the hidden business activities of its executives.</p>
<p>As crypto.news <a href="https://crypto.news/opensea-former-exec-imprisoned-for-nft-insider-trading/" target="_blank" rel="noopener noreferrer nofollow">reported</a> in August 2023, the U.S. court sentenced Nathaniel Chastain, a former product manager at NFT marketplace OpenSea, to a three-month incarceration for his insider trading on OpenSea.</p>
<p>Furthermore, he was also instructed to pay a fine of $50,000 and relinquish any unlawful cryptocurrency gains acquired from his OpenSea trading ventures.</p>
<p>On Sept. 6, the legal representatives of Nathaniel Chastain&nbsp;<a href="https://www.courtlistener.com/docket/63352608/158/united-states-v-chastain/" target="_blank" rel="noopener noreferrer nofollow">submitted&nbsp;</a>a letter to a New York District Court, notifying the judge that Chastain has chosen to retract his bail application while the appeal is ongoing. As per the court’s earlier verdict, Chastain will willingly surrender himself by Nov. 2 to start serving his sentence while the appeal is being reviewed.</p>
<p>Read more: <a href="https://crypto.news/opensea-to-deactivate-its-royalty-enforcement-system/" rel="noopener noreferrer nofollow"> OpenSea to deactivate its royalty enforcement system </a></p>

Ex-OpenSea exec accused of pump & dump, $60m rug pull

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