OpenSea is once again the target of controversy. NFT Ethics, a group focused on promoting transparency and fairness in the NFT space, has unveiled the true identity of the notorious influencer Sisyphus. Known for his involvement in various pump and dump schemes, Sisyphus has been unmasked as Kevin Pawlak, the Head of Ventures at OpenSea.
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OpenSea leadership called into question
Pawlak’s alias, @0xSisyphus, is alleged to have played a significant role in multiple questionable dealings and pump and dump schemes. One of the most notable accusations pertains to his participation in the AnubisDAO project, which saw a staggering $60 million disappear in a rugpull scenario.
Furthermore, Pawlak is accused of leveraging his position at OpenSea to influence decisions without proper disclosure. He utilized his account for actions that could have potentially profited him, hiding the fact that he was an integral employee of the platform. This naturally raises concerns about transparency and ethical conduct within OpenSea’s operations, casting a shadow over the credibility of its leadership.
Shady dealings with Alameda Research
The third key point of contention in the investigation revolves around Pawlak’s dealings with Alameda Research.
NFT Ethics questioned the nature of Pawlak’s recommendation for Alameda Research to invest in Anubis ($ANKH). They inquired:
“When he was dealing with Alameda Research and telling them to buy Anubis ($ANKH), was that in a private or professional capacity? Was OpenSea ever involved in any of his “side projects”? How do you regulate potential conflicts of interest and insider trading of your employees?”
Allegations backed by onchain data
NFT Ethics also emphasized that all evidence they have presented is from publicly available sources. Not only did the group provide onchain proof, but also stated that the identity of Kevin Pawlak is corroborated by multiple sources, including a journalist from The Block.
The group further stated that due to Pawlak’s influential connections, many are hesitant to vocalize concerns about this alleged network of deceit. They highlighted:
“Because he is well-connected, not many people dare to speak out about this fraudulent network of people.”
As the NFT community awaits a response, OpenSea is now in the spotlight. The platform has been under fire lately due to its controversial royalty changes and recent API leak. Hopefully, the platform will take action against Pawlak and double its efforts to avoid employees engaging in insider trading.