An NFT dealer that goes by the identify Hanwe Chang has made 800 ETH, value nearly $1.5 million, after tricking a bot into shopping for his NFTs at elevated costs.
Writing on the social media platform X on this weekend, Hanwe Chang claimed {that a} bot was copying all of his NFT bids on Blur, a brand new NFT market that has lately overtaken the beforehand dominant OpenSea as the highest market by quantity.
“Noticed that someone’s bot was copying my bids on Blur, so I decided to trick him… Made 800 ETH profit thanksss,” Chang wrote, whereas sharing a screenshot of 12 transactions of NFTs from the Azuki assortment that have been offered for 50 ETH every.
Azuki is a lately launched NFT assortment that raised close to $40 million throughout its launch.
Positioned bids on his personal NFT sale
The submit and screenshot shared by Chang shortly sparked discussions within the NFT neighborhood on X, the social community previously referred to as Twitter, provided that the newest commerce of an analogous NFT introduced in solely 5 ETH.
On-chain information from Etherscan reveals that the 12 NFTs have been gathered by Chang in an Ethereum pockets, and that income from the commerce have been despatched to a pockets labelled as hanwe.eth.
In line with X person A-Raving-Ape.eth, what seems to have occurred is that Chang has positioned bids on the NFTs he already owned, identified {that a} bot would copy his bids.
Consequently, Chang seems to have efficiently tricked the bot to purchase his NFTs at costs that have been massively inflated by his personal bidding.
“This is an epic case of [player versus player] in the current NFT trading market,” the person wrote.
One other neighborhood member agreed with the general concept of how the commerce was made, however warned others that Chang’s tweet in regards to the commerce “will go down as the dumbest of all time.”
“Hanwe admits to ‘Bid Spoofing’ or ‘Shill Bidding’ — an illegal market activity of Fraud or Wire Fraud,” the person wrote.
