A non-fungible token trader reportedly sold a highly sought-after NFT for $3,000 rather than $300,000 due to a 'fat-finger' error.
According to CNET, Max's Bored Ape was immediately snapped up by a bot that was designed to buy NFTs listed below a certain price, and subsequently listed for $248,000. To add insult to injury, the buyer using the bot even paid an extra $34,000 in "gas fees" — which are required for making transactions on Ethereum — to make sure they got it first.
"The industry is so new, bad things are going to happen whether it's your fault or the tech," Max told CNET. "Once you no longer have control of the outcome, forget and move on." The costly mistake isn't the first high-profile example of a fat-finger error in the young crypto industry. A small crypto exchangeon a $100,000 deposit. It was luckily refunded the full amount by an Ethereum miner who verified the transaction.
However, unlike in traditional financial markets, cryptocurrency trades are nearly impossible to reverse unless the people involved in a transaction agree to do so. TheYou can read the full CNET report
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