This man accidentally sold a $300K 'Bored Ape' NFT for $3K


San Francisco, Dec 14 (IANS): In a bizarre incident, a seller lost a moolah when he accidentally listed the price of his non-fungible token (NFT) as $3,000 (0.75 Ethereum) then the original price of $300,000 (75 Ethereum) on an NFT trading platform. The artwork was immediately snapped up for $3,000 before he could correct the price.

The 'Bored App Yacht Club' NFT was bought instantaneously by a bot on the trading platform.

"The buyer paid an extra $34,000 to speed up the transaction, ensuring no one could buy it up before him. The Bored Ape was then promptly listed for $248,000," according to a report in CNET.

The 'Bored Ape Yacht Club' is one of the most prestigious NFT collections in the world.

"How'd it happen? A lapse of concentration I guess. I list a lot of items every day and just wasn't paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 eth ($34,000) of gas fees so it was instantly sniped before I could click cancel, and just like that, $250k was gone," its seller who goes by the name of Max was quoted as saying in the report on Monday.

Such "fat-finger errors" are well-known in the world of traditional finance.

In 2015, a junior Deutsche Bank employee accidentally sent $6 billion to a hedge fund client after messing up their calculations.

A Japanese trader had almost bought 57 per cent of Toyota's stock in 2014.

Last month a cryptocurrency company erroneously paid a $24 million fee on a $100,000 transaction.

For Max, there's no way to get his cash back. It doesn't help that the NFT he sold belongs to a particularly valuable collection, the report mentioned.

"Once you no longer have control of the outcome, forget and move on," he said.

 

  

Top Stories


Leave a Comment

Title: This man accidentally sold a $300K 'Bored Ape' NFT for $3K



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.