OpenSea co-founder Devin Finzer revealed on his Twitter that the entity would fire 20% of its workforce.
Finzer pointed at the crypto winter as the main reason behind the decision. He said the move was necessary to maintain a solid position in the market. He thinks the bear market would bring a lot of improvements to the environment.
OpenSea stated that it made a sad and hard decision to reduce the size of its workforce by 20%. The entity expressed a worrying stance about the situation and waved goodbye to workers considered friends and excellent team members.
All the workers leaving the entity have played a significant role in OpenSea’s evolution. This team offered excellent backup to users, honored their mission in the company, and worked to strengthen the foundations of the NFT environment.
According to the entity, these people are talented workers. The entity will provide a severance, healthcare coverage into 2023, and accelerated equity vesting for those workers leaving. The entity will also help these workers with job placement and opening their networks to support them in every possible way.
OpenSea and Other Situations
In addition to the staff cuts, OpenSea already deals with other important issues within the company. The network fell victim to a hacking attack at the beginning of the year when PeckShield highlighted that they had 700 thousand dollars in ETH extracted from the site. The attacker allegedly employed anonymous crypto wallets and accounts on OpenSea to circumvent detection.
Many users expressed through Twitter that they detected some flaws and suspicious behaviors within the platform. One of them asked the entity why an account named @natechastain had a few secret wallets purchasing front-page drops before they got recorded and selling them shortly after the front-page-hype spike for profits.
OpenSea responded by saying that it would manage a rapid review of the incident, later confirming that the situation was under the magnifying glass of a third party. The entity then amended rules to stop employees from purchasing or selling from collections actively offered on the marketplace.
On the other hand, a scam for revealed by the official OpenSea Twitter account in May. This scam focused on a fake ad saying that OpenSea and YouTube had teamed up to bring out a new NFT collection. A link supposedly offered a spot on the waiting list to acquire these NFTs, but it ended up being another attempt to scam.
On July 1, an employee of Customer.io, OpenSea email delivery partner, gained access to the non-fungible token (NFT) marketplace database. The attacker managed to leak sensitive data from customers and even sent some newsletters from subscribers to an unauthorized external party.
Customers got warned that the incident could serve as a nest of email phishing attacks. Any customer who gave their email address to the company in the past got warned that they must assume they are victims of the leak.
OpenSea moved its pieces to brace itself during this crypto winter. The entity will keep bringing assistance of every type for its ex-workers to avoid leaving them behind. According to OpenSea, these workers must keep their good reputation in the crypto environment.
By: Jenson Nuñez
