OpenSea Accused of Running a "Casino" by Ether.Fi Project
After having their collection worth 6200 ETH disabled without a clear reason, the founder of Ether.Fi has publicly accused OpenSea of irresponsibility, likening the platform to a "casino."
OpenSea Accused of Running a "Casino" by a Project
According to a post by Ether.Fi CEO Mike Silagadze, he described the sudden disappearance of the ether.fan collection, comprising 3,000 NFTs backed by over 6200 ETH staking, from OpenSea. Notably, the exchange did not provide a satisfactory explanation to the project.
The incident occurred on July 11th, with Ether.Fi stating they received no prior warning before the collection vanished, forcing them to reach out to the team via social media. Eventually, Ether.Fi received an email stating that their collection violated trading registration laws.
The CEO noted that despite their efforts to clarify and explain that ether.fi's NFTs were simply wrapped tokens of ETH, the project did not receive a response from the platform for several days.
He even criticized:
"OpenSea is effectively running an unlicensed casino where people gamble and spend millions on pictures of monkeys and the like, while not allowing the listing of a collection with actual utility."
In response, OpenSea maintained their stance, stating to the media via email:
"When we discover collections or content that violate our Terms of Service, we enforce our policy in various ways, including removing collections and, in some cases, banning accounts altogether."
