In what appears to be either a regrettable mistake or a hack, an NFT holder has sold a Bored Ape worth $350,000 from the world’s most famous and expensive NFT collection for a meager $115.

The sale, which took place on the world’s biggest NFT marketplace, OpenSea, has stirred a great deal of debate as the floor price (the lowest price of any NFT within a collection) of a Bored Ape NFT is currently pegged at 106.0 ETH, or $360,560 USD at today’s prices.

Are you being scammed?

OpenSea data shows the buyer for BAYC #835 previously bid in DAI (a stablecoin), on various Bored Ape PFTs. It is thought that the buyer’s intentions were to trick someone into believing that the offer was in ETH, rather than the stablecoin.

The victim was a BAYC owner going by the monicker “cchan,” who accepted a bid of 115 DAI (worth $115 USD) for the BAYC #835 in their possession, which had been valued at above $360,000.

Cchan accepted a 25 DAI ($25), from the same buyer, for their Mutant Ape #11670NFT. The Mutant Ape NFT collections floor price is currently 22.6ETH ($76,000).

Although this is not yet confirmed, cchan believes that they bid for the Mutant Ape NFTs in ETH.

The Flipside

• Cchan rejected previously three bids between 75 and106ETH for the Bored Ape NFT.

Why you should care

It is important to remember to verify transactions before you make them. Cchan lost over $430,000 because it confused DAI with ETH.

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