Two users of OpenSea filed a class-action lawsuit, accusing it of selling unregistered securities contracts

ChainCatcher news, according to Cointelegraph, two OpenSea users have filed a class action lawsuit in a federal court in Florida, accusing the NFT trading platform OpenSea of selling unregistered securities contracts. The plaintiffs, Anthony Shnayderman and Itai Bronshtein, claim that the NFTs they purchased on OpenSea (including the once high-priced Bored Ape Yacht Club series) are "worthless" due to their "illegal nature."

The plaintiffs cited the Wells notice disclosed by OpenSea last month from the U.S. Securities and Exchange Commission (SEC) as part of their argument. They believe this indicates that OpenSea may face legal liability for facilitating the trading of unregistered securities. The lawsuit also references the SEC's previous successful enforcement actions against NFT projects such as Stoner Cats 2 and Impact Theory, where the SEC determined that these NFTs were sold as unregistered securities.

OpenSea has not publicly responded to this lawsuit.