Nifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts slow and more
NFT traders $1.5 M bot chess moveYouTuber and nonfungible token (NFT) trader Hanwe Chang said he scored 800 Ether (ETH), around $1.5 million, by deceiving a competing traders bot into purchasing his own inflated NFTs.In an Aug. 5 X (Twitter) post, Chang said he saw a bot was copying his quotes on the NFT marketplace Blur and chose to trick them.An NFT-focused account A Raving Ape hypothesized that from a separate, anonymous wallet Chang bought multiple Azuki NFTs sharing the same background color.Context on how @HanweChang performed a strategy to excellence and made 800e by offering “Off White A – Background color” azuki at 50e each and azuki elementals at 15e each. This is an epic case of PvP in the current NFT trading market ⚔ Hanwe has been cruising on top area of … pic.twitter.com/M8Ujm8CquJ— A-Raving-Ape. eth (@a_raving_ape) August 5, 2023
Understanding bots were copying his trades, Chang put an inflated quote on the NFTs kept in his anonymous wallet from his publicly-known hanwe.eth wallet.Once a bot automatically copied the inflated quote, Chang accepted it from his confidential wallet and had the ability to palm off the NFTs at a considerable markup.Seemingly, the owner of the bot called elizab.eth reacted to Changs post claiming the funds were taken and provided to go over a 10% bounty if the funds were returned.We wishes to talk about a bounty with you. We are offering a 10% bounty of any funds stolen from our bot, which are yours to keep if you return the remaining 90%.– elizab.eth ᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠ (@ThinkingETH) August 5, 2023
Changs on-chain move activated conversation over its legality.Lawyer Gabriel Shapiro said he believes elizab.eth “might have good legal claims” to get their ETH back from Changs technique– but only if they employ a competent litigation attorney.NFT volumes nearly cuts in half over JulyNFT volumes have actually continued to slide in the ongoing bear market, having actually sank by nearly half over July.Figures from NFT data aggregator CryptoSlam reveal U.S. dollar sales volume decreased nearly 42% over July with the month starting off with $22 million in day-to-day volume prior to sinking to $12.8 million on July 31. Source: Cryptoslam!Julys drop comes after a substantial rally in late June where daily sales volumes peaked at almost $58.5 million on June 27, the biggest trading day because March 16s $61.9 million figure.Royalties from NFTs are likewise biting developers. The figure marks a 31% reduction from June.PeckShield stated half of the stolen NFTs were sold within less than three hours, or 165 minutes, on marketplaces such as Blur and OpenSea after being nabbed.
The tongue of the shoe depicts the original handdrawn variation of VeeFriends alpaca NFT and the NFT projects logo appears in place of Reeboks. In late June Dior put up a brand-new line of tennis shoes that offered an NFT replica and NFTs came ingrained in Pumas recent sneaker collection.Other Nifty NewsThe Federal Bureau of Investigation (FBI) has actually lastly caught on that bad guys are hijacking social media accounts and positioning as legitimate NFT and crypto area figures, publishing a warning of the pattern on Aug. 4. NFT procedure JPEG d verified 5,495 ETH worth about $10 million was returned by the Curve Finance hacker, who got a bounty of 610.6 ETH, or $1.1 million.
Knowing bots were copying his trades, Chang placed an inflated bid on the NFTs held in his anonymous wallet from his publicly-known hanwe.eth wallet.Once a bot automatically copied the inflated quote, Chang accepted it from his confidential wallet and was able to palm off the NFTs at a considerable markup.Seemingly, the owner of the bot understood as elizab.eth responded to Changs post claiming the funds were taken and used to discuss a 10% bounty if the funds were returned.We would like to discuss a bounty with you. Blur had the greatest quantity of taken NFTs offered, with over 67% while OpenSea had just under 20% sold through its platform, PeckShield claimed.Just over $41.5 million worth of NFTs have been stolen in 2023 up till the end of July. February was the biggest month for NFT thieves, where they took $16.2 million worth of tokens.Gary Vees NFT task also steps into sneaker trendVeeFriends, the NFT job by business owner and internet talking head Gary Vaynerchuck has joined the newest fad of NFT-related sneakers.On Aug. 4 VeeFriends revealed its partnered with Reebok to release a restricted edition sneaker just available to those holding an alpaca-related NFT as part of the collection.Dreamers, lets do this. In late June Dior put up a new line of tennis shoes that provided an NFT reproduction and NFTs came embedded in Pumas recent sneaker collection.Other Nifty NewsThe Federal Bureau of Investigation (FBI) has finally captured on that bad guys are pirating social media accounts and positioning as legit NFT and crypto space figures, publishing a warning of the pattern on Aug. 4.
Blur had the greatest amount of taken NFTs sold, with over 67% while OpenSea had simply under 20% offered through its platform, PeckShield claimed.Just over $41.5 million worth of NFTs have been taken in 2023 up until the end of July. February was the most significant month for NFT thieves, where they took $16.2 million worth of tokens.Gary Vees NFT task likewise steps into sneaker trendVeeFriends, the NFT job by business owner and web talking head Gary Vaynerchuck has signed up with the latest craze of NFT-related sneakers.On Aug. 4 VeeFriends revealed its partnered with Reebok to launch a minimal edition sneaker just available to those holding an alpaca-related NFT as part of the collection.Dreamers, lets do this.