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Bored Apes borrowed to claim $1.1 million in APE tokens

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Yuga Labs, the inventors of BAYC, airdropped ApeCoin (APE) to everyone who buys one of their NFTs yesterday.

For the Bored Ape Yacht Club and Mutant Ape Yacht Club collections, the team allotted 150 million tokens, or 15% of the entire ApeCoin supply, worth over $800 million. Each BAYC holder received 10,094 tokens worth $80,000 to $200,000.

But someone managed to claim the airdrop using NFTs they didn’t own. They used the airdrop’s particular features to carry it out. And it worked, earning them $1.1 million in ApeCoin.

The gimmick was that the ApeCoin airdrop wasn’t based on who owned which Bored Ape at a given time. Instead, anyone with a Bored Ape at the time of the airdrop may claim it. So if you handed someone your Bored Ape and you hadn’t claimed your tokens, they might claim them.

The individual just needed to gain hold of several Bored Apes that hadn’t had their tokens claimed to claim the airdrop. They might be returned immediately.


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