[inthewoods]

One interesting theory I've heard on this is that, given there are about 6400 accounts with 1000+ ETH, that these folks essentially don't recognize the amount of money they're using to buy this stuff. In other words, it's like casino chips and that may be altering the way they view the purchases.

Obviously no way to really know, but I do find it amazing (and very suspect) that Openseas went from $8m a month to $2.3b a month - that's a pretty heady number. It does make me suspect either wash trading or other activities going on.

[xur17]

> Obviously no way to really know, but I do find it amazing (and very suspect) that Openseas went from $8m a month to $2.3b a month - that's a pretty heady number. It does make me suspect either wash trading or other activities going on.

Opensea charges a 2.5% fee on every purchase, so wash trading would be relatively expensive (but not impossible).

[space_rock]

It's very likely Opensea is organizing the scams or is colluding with the scammers. Considering every crypto founder as a career criminal collusion is very likely.