If you were to buy the cheapest Bored Ape Yacht Club NFT right now, it’d cost you 86 ETH or $206,000 (at the time of writing this article. Today, someone bought a BAYC NFT for 0.77 ETH or $1,850. This news shook the entire NFT space and here’s exactly what happened.
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OpenSea, the top marketplace where people buy and sell NFTs has a new bug that allows people to snipe older listings of your NFTs. Here’s what happens. Once you list your NFT, you can either wait for someone to buy it, or you can delist it. The proper way to delist is by paying a gas fee. Now, some people figured out a way to delist their offerings without paying a gas fee. Here’s how.
— dannyshelby.eth (@danielnorris2) January 24, 2022
TBALLER.eth on Twitter lost their BAYC NFT for 0.77 ETH which is crazy! Almost $200,000 loss just because of a stupid bug. Yes, this is a professional blog, but this is crazy!
This is one person behind the exploit right now –
It's one person, jpegdegenlove, he is using @opensea's favorite function on NFTs before it happens.
Wallet Activity link: https://t.co/bxMiHdfWcw pic.twitter.com/6McDKVaGSx
— m0rgan.ethᵍᵐ 💎🙆🏼♀️ (@Helloimmorgan) January 24, 2022
If you’ve delisted your NFTs the same way, without paying a proper gas fee, do it immediately as people are exploiting this bug to snipe top blue-chip NFT projects.
Make sure you follow us on Twitter for daily NFT updates. Until next time, Stay Safe, Protect Your Hot Wallets, and Happy Minting!