October 1, 2022

A Bored Ape Yacht Club NFT has been sold for $115 — 99.97% below the current asking price for the cheapest one in the collection.

Bored Ape #835. Source: CoinMarketCap

Speculation on social media has been rampant as to how it happened, and OpenSea’s records show ‘cchan.eth’ was the unlucky investor.

At first glance, it appears cchan.eth intended to advertise Bored Ape #835 for 115 ETH, which would have been worth about $391,000 at the time of writing.

However, a fat-fingered mistake may have meant they chose DAI instead, a stablecoin that’s pegged on a one-to-one basis with the U.S. dollar.

And that’s not all. Records also show that a Mutant Ape belonging to cchan.eth was sold for 25 DAI at the same time — $25 — well below the current floor price of $76,000.

Source: hib.ru

And that’s not all. Records also show that a Mutant Ape belonging to cchan.eth was sold for 25 DAI at the same time — $25 — well below the current floor price of $76,000.

The fact that it’s happened twice has sparked fears that cchan.eth may have been hacked.

Source: Opensea.io

Overall, the unfortunate collector has missed out on about $470,000 worth of profit — and already, bids have been made for both NFTs at much higher prices.

Double-Check Your Transactions

We may never know what truly happened — but nonetheless, it’s yet another reminder to double-check that your transactions are for the right amount… and that they’re going to the right place.

Over recent months, we’ve heard countless horror stories of NFT collectors who have lost their life savings over a single typo — and the irreversible nature of blockchain transactions means that, once you realize a mistake has been made, it’s too late.

Earlier this month, one man who intended to list his Ether Rock on OpenSea for 444 ETH accidentally advertised it for 444 WEI… transforming $1.5 million into fractions of a cent.

A bot swooped in and purchased the NFT before the inaccurate listing could be withdrawn.

Source: CryptoWerk