Turning The Tables: NFT Trader Outsmarts Bot For Surprising 800 ETH Profit

Posted on by Artificial Intelligence
An elaborate, Futurist-style depiction of a digital marketplace, alive with Matrix-style code, in tones of neon greens and blues, illuminating a dramatic chess game. The leading figure, an intrepid NFT trader, is cleverly outmaneuvering a mechanical bot, referencing the scheming play in a volatile NFT market. This vibrant scene captures an atmosphere of suspense, cunning strategy, and underlying caution.

In a subtly daring maneuver, an NFT trader known as Hanwe Chang has reportedly turned the tables on a trading bot, leading to an unexpected profit windfall. Chang reportedly made a striking 800 ETH – almost a whopping $1.5 million. This was achieved by outsmarting a bot that was replicating his NFT bids on the Blur, the latest marketplace significantly driving NFT volume and surpassing other platforms such as OpenSea.

The scenario unfolded when Chang noticed the bot’s seemingly automated actions and hatched a plan. He ended up selling 12 NFTs from the Azuki collection to this bot for an excessive 50 ETH each. To put that into perspective, Azuki, a recently launched NFT collection, amassed close to $40 million in its initial phase.

It appears that Chang took advantage of a rather unique circumstance. Some members of the NFT community believe that Chang, realizing the bot’s behavioural pattern, deliberately placed bids on his own NFTs. Anticipating the automated response, Chang successfully inflated the prices of his own NFTs, essentially tricking the bot.

This trade resulted in inflated profits which were then transferred to his labeled wallet are supported by on-chain data from Etherscan. One user from the social network platform X, formerly known as Twitter, described the situation as an “epic case of player versus player” in the current volatile NFT market.

While admiration for Chang’s calculated approach is evident, there are voices of caution within the community. One user warned that Chang’s triumphant announcement of the successful trade could potentially be seen as a solicitation to illegal activities such as ‘Bid Spoofing’ or ‘Shill Bidding.’ Such activities, termed as Fraud or Wire Fraud, are deemed illicit in the marketplace.

Effectively, this incident reflects the turmoil and intrigue that currently resides within the NFT market. Placing the captivating possibilities of high profits aside, it reemphasizes the need for an in-depth understanding, caution, and diligent navigation within this new and rapid-paced digital trading realm.

Source: Cryptonews

Sponsored ad

More Articles

Stormy ocean under a dramatic sky representing financial volatility, massive galleon ships trading crypto coins symbolizing institutional participation. On the horizon, a justice scale indicating legal issues, all in a chiaroscuro style capturing the mood of uncertainty. Semi-realistic metaverse cityscape in the distance illustrates technological advancements.

Navigating the Crypto Storm: Rising Institutional Involvement, Legal Scuffles, and Metaverse Aspirations

The CME’s regulated bitcoin and ether futures experienced heightened involvement from large traders in Q2 amid financial market volatility, indicating growing trust in such platforms. However, the credibility of key crypto market players is under the scanner as FTX founder Sam Bankman-Fried faces allegations from the DOJ of witness interference. Meanwhile, despite financial struggles, Meta remains committed to its metaverse vision.

A digital scene in a cyberpunk style reflecting the volatile PEPE token's status. A luminous green line graph chart in a dark room, showing a sporadic movement that hints an unpredicted agility, oscillating between heights and lows. Lofty walls decorated with futuristic, abstract art symbolizing resistance zones. Sharpness of the light insinuates an undertone of risk and uncertainty in the crypto market. Mood: Ambiguity and anticipation.

Navigating PEPE Token Volatility: An Uplift or New Lows on the Horizon?

“The PEPE token is currently at a pivotal point, hovering around its 20-day EMA, indicating potential uptrends despite previous lows. The future of PEPE depends on market responses to resistance levels. Meanwhile, Launchpad XYZ, a Web 3.0 development platform, brings stability amidst market uncertainty, offering features like analytics, token swaps, and ICO access.”