By selling his valuable rock NFT for 444 WEI instead of 444 ETH, one crypto user lost $1.2 million.
One crypto user’s life is tough. On March 10, a sniper bot and a careless keystroke cost a million dollars.
A $1.2 million rock sold for 444 Wei ($0.0012) to a bot because the vendor, DinoDealer, mistook WEI for ETH. On Twitter, the seller wrote, “in one click, my $1 million net worth is gone.”
The term “bot sniped” refers to automated snipers used on eBay. The instruments are used by buyers who want to outbid one other. On NFT listings, they are now common. Upwork presently has bot sniping solutions for the NFT platform OpenSea for as low as $200.
No going back once the bot has the NFT or digital receipt. Because blockchains are immutable, simple errors like mixing up ETH and WEI may be expensive.
Cryptography is rife with human mistake. A Bitcoin (BTC) user just lost $10,000 (0.25 BTC) due to a simple typo in the recipient wallet address.
DinoDealer, the vendor, seems to have accepted his defeat, publicly releasing the rock’s bot snipe address. A sobbing emoji and a new Twitter profile photo made fun of the issue. Their avatar stands by the rare gemstone, crimson.
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And finally, read on how to sell NFTs. Useful stuff! 😉