Opensea’s top manager was convicted of fraud and scam of an AnubisDAO worth $60M; OpenSea denies the allegations

In a recent twist of events, Kevin Pawlak, the Head of Ventures at OpenSea, has found himself at the center of serious allegations linked to the notorious AnubisDAO rug pull of 2021. These claims emerged from a thread initiated by NFT Ethics on October 6, suggesting a potential connection between Pawlak and the pseudonymous figure “0xSisyphus,” who was implicated in suspicious activities surrounding the AnubisDAO incident.

The AnubisDAO Rug Pull Recap

The AnubisDAO rug pull incident that transpired in October 2021 resulted in the loss of approximately 13,556 ETH, valued at around $60 million at the time. Such incidents, which breed mistrust within the crypto community, cast a shadow over platforms and the broader NFT ecosystem.

Accusations and Analysis

The allegations hinge on an analysis of Ethereum transactions, which unveiled associations between specific addresses and domains reportedly connected to Pawlak. These connections were coupled with tokens minted in connection to the AnubisDAO incident.

NFT Ethics, in an October 6 thread, shed light on these allegations and questioned Pawlak’s role as the former Head of Ventures at OpenSea, raising concerns about potential conflicts of interest.

1/ Dear @OpenSea, 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 & dump schemes under his pseudonymous identity @0xSisyphus (& 0xMagellan)? pic.twitter.com/GzIVLJirLE

— NFT Ethics (@NFTethics) October 6, 2023

Moreover, claims that Pawlak tried to influence decisions at OpenSea without disclosing his employment status, thereby benefiting from those decisions. The allegations also extend to his involvement with Alameda Research.

OpenSea’s Response

OpenSea swiftly responded to the allegations in a statement issued on the same day. The company denied any knowledge of Pawlak’s purported activities and emphasized his limited role at the company, which predated the AnubisDAO incident. OpenSea’s stance on this matter is that the accusations lack substantial evidence.

Kevin is a former employee who left the company in June 2023. He had a limited scope while at OpenSea — where he worked in a non-management position. We have no awareness of his involvement with the projects in question.Officially stated by a representative of the marketplace

Ongoing Investigations and Community Skepticism

Blockchain investigator ZachXBT has sought to distinguish between negligence and theft in this saga, pointing to other pseudonymous individuals, “Beerus” and “Ersan,” as key figures in the scandal. This skepticism within the blockchain community underscores the lingering doubts about the true culprits behind the AnubisDAO incident.

This unfolding situation highlights the complexities of the rapidly evolving NFT landscape, emphasizing the need for diligent scrutiny and transparency among key players in the digital asset domain. As the investigations continue and the discourse unfolds, the NFT community and stakeholders eagerly await clarity on this matter. Such revelations may, in turn, encourage the implementation of more robust security protocols and ethical practices within the NFT ecosystem. Stay tuned as the NFT world navigates these intricate waters, seeking answers and accountability.

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