One of the most expensive NFTs on the market resold

5 avril 2022

Another non-fungible token (NFT) from the hugely popular Bored Ape Yacht Club (BAYC) collection, Bored Ape #835, has been sold for a fraction of the collection's floor price - leading to long debates within the community on this which may be the cause of this event.

This Tuesday morning (10:00 UTC), the floor price of BAYC was 107 ETH (360,000 USD). However, Bored Ape #835, which has a rarity score of 86.83, was sold for 115 DAI (115 USD), or 99.9% below the collection's floor price.

According to data from OpenSea, the former owner of the NFT, known as "cchan", accepted the offer of 115 DAI on Monday. The owner also accepted an offer of 25 DAI for his Mutant Ape #11670, while the collection currently has a floor price of 22.6 ETH ($76,000).

At first glance, one would assume that the owner confused the stablecoin DAI with ETH, especially since ETH 115 and ETH 25 could have represented suitable offers for Bored Ape #835 and Mutant Ape #11670, respectively.

However, it should be noted that OpenSea lists the USD equivalent of bids right next to the cryptocurrency amounts, making it implausible that the buyer may have missed out. Moreover, the fact that the owner sold both NFTs to the same buyer makes it more curious.

While the sale could be the result of a mistake, there's also a chance it was due to some form of exploit. Twitter user and NFT trader NFApes claims to have contacted the owner. The latter reportedly said he was unaware of the sale and that it could be a hack.

Recently, on several occasions, users have seen their NFTs sold at a considerably low price without their consent.

At the beginning of the year, malicious individuals were able to buy NFTs at old quotation prices on OpenSea. In a statement to Cryptonews.com, the platform denied the hacking claims and explained that the problem arises when users create listings for their NFTs and then transfer the listed NFTs to a different wallet without deleting the listing.

Recently, OpenSea was the victim of a phishing attack in which users had their NFTs sold without their permission. At the time, OpenSea CEO Devin Finzer claimed that the victims may have "signed a malicious payload from an attacker".

However, another speculation has been that the sales could amount to tax evasion, as pointed out by Twitter user Artchick.

“It looks more like a tax evasion attempt, they sold their mutant for [USD]25 to the same wallet,” she said. "They'll probably claim they were scammed and may even have the audacity to try to declare the bad debt, they bought the monkey for 16 ETH."