Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
He was trying to make an experiment and a joke out of selling an Ethereum domain on NFT. The experiment worked, but in the end it backfired.
- A user of OpenSea tried to market an area or arena, online or offline, in which commercial dealings are conducted. a domino Ethereum.
- Thinking no one would buy it, he scheduled an auto-buy order.
- The experiment worked: someone bought the domain.
- But then that buyer accepted the automatic offer for more than $150,000.
If the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. ecosystem has shown us anything, it’s that if you’re not careful when making transactions, it’s easy to make mistakes that can be very expensive.
This is exactly what happened to the crypt user operating under the pseudonym of Franklin who, because he wanted to make a joke while trying to sell a domain of Ethereum a decentralized open-source blockchain with smart contracts functionality. (Ethereum Name Service / ENS), he ended up losing more than $150,000. All because he forgot one small detail. The user reported the event in Twitter as collected the media Decrypt yThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain..
It all started when Franklin created the domain stop-doing-fake-bids-its-honestly-lame-my-guy.eth as a joke on Tuesday. After that, he had gone to the platform a place to buy, sell and store cryptocurrency OpenSea to sell the ENS as a collectible. His intention with the small “ experiment “was to demonstrate the existence of bots automated software that can carry out tasks such as cryptocurrency trades. on Twitter that post such offers.
It is worth noting that Franklin is an avid collector of tokens (NFT) known in the community and the seventh largest collector of the popular series.Bored Ape Yacht Club.
The mistake that cost USD $150,000
As part of his experiment, he tried to auction an auction is a public sale through a bidding process where an asset is sold to the highest bidder. the said domino through an alternative wallet a place where cryptocurrency users can store, send and receive digital assets. and asked 1.9 ETH (about $2,900 USD) for the NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility..El ensayo resultó exitoso, ya que logró que la cuenta de Twitter @EnsBidsBot to publish your offer.
In their plans, assumed that no one would be interested in ENS. and that, although some users might bid, no one would actually make a payment to complete the sale. With this in mind, I had pre-scheduled a purchase order in advance for about $156,000 in tokens WETH for your own article from a wallet in your possession.
What phrase or meme do you want me to have the ens bot tweet out as a .eth address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. with a 100 WETH bid? Lol I would have to mint the ENS address myself too.
— Franklin (58 apes) (@franklinisbored) July 19, 2022
However, to his surprise, someone saw interest in his tokenized ENS. . A user bid on the NFT and purchased it for the price originally quoted in the initial bid. Once the deal went through, Franklin went to his Twitter to share the good news with his followers; however, he didn’t count on the new owner receiving his previous offer that he had forgotten about.
The new owner ended up accepting the automatic bid Franklin had previously made, making a profit of $155,000. After realizing what had happened, Franklin ran to lament in a tweet :
“Oh no, I lost 100 ETH. I was celebrating my joke of a domain sale, sharing the loot, but in a thought of greed, I forgot to cancel my own 100 ETH offer to buy it back. This will be the joke and bounce of the century. I deserve all the jokes and criticism.”
Oh no, I lost 100 ETH. I was celebrating my joke of a domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH to buy it back. This will be the joke and bag crypto slang for a large quantity of a specific cryptocurrency. Alternatively (but less frequently) used to refer to the contents of an individual's crypto portfolio. fumble of the century. I deserve all of the jokes and criticism.
— Franklin (58 apes) (@franklinisbored) July 20, 2022
As the affected person indicated, the mistake was that he forgot to deactivate the automatic order he had programmed. It seems that between the enthusiasm and the haste to share the “ success “In the wake of his Twitter experiment, Franklin neglected his previous action, which ended up playing a dirty trick on him.
In your tweets Later, Franklin acknowledged his mistake and also lamented the fact that he will not be able to recover the funds he lost. “ I wasn’t “scammed”. I had plenty of time to cancel my offer, I just ran to Twitter instead. “.
I didn’t get “botted.” I had plenty of time to cancel my offer, I just ran to Twitter, instead. I also sent the 1.9 WETH back to the person who bought/flipped it back to me. This is a mistake that I can’t imagine anyone else putting in the effort to make.
— Franklin (58 apes) (@franklinisbored) July 20, 2022
Incidents that were costly
Some elements, such as why Franklin set himself such a high offer, will remain a mystery. In any case, his case is far from the first. The digital currency ecosystem is often plagued by curious incidents and mistakes that ended up being very costly and even catastrophic for some users.
At the end of March, a user of OpenSea sold by mistake issue #835 of the collectionBored Ape Yacht Club in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for about 115 tokens DAI . It is believed that the perpetrator expected to trade his NFT for about 115 ETH. , but in the end a typo ended up putting the collectible on sale at a ridiculously low price.
Another recent case was that of a developer who sent the project funding to JUNO de Cosmos (ATOM) to the wrong address, which is a left at least $36 million in cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. inaccessible .
- Minecraft minecraft is a video game where players can essentially create and break apart different kinds of blocks in a three-dimensional world. creators disapprove of NFT use: “We will not support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. or allow it”.
- UK Court authorised service of legal notices via NFT
- Revuto to market Netflix and Spotify lifetime accounts through NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain).
Article by Angel Di Matteo / DiarioBitcoin
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