• Bored Ape Yacht Club NFT was over $390,000. It was sold at $115 below the floor price.
• There has been much speculation within the community as to what could have happened.
• A Mutant Ape was previously purchased by the collector at a lower price than its floor value.

Bored Ape Yacht Club NFT was over $390,000. It was sold at $115 below the floor price.

Following NFT influencer Mateen Soudagar’s screenshot of the transaction, Twitter (NYSE:) ran abuzz, theorizing what had happened.

It was horrible.

Someone accepted $115 DAI on their Ape thinking it’s 115 ETH? ($380k USD).

Ouch. pic.twitter.com/kahHU5NNdL

— Matty (@DCLBlogger) March 28, 2022

OpenSea records show that cchan.eth was the loser in the transaction.

Cchan.eth seemed to have intended to list Bored Ape #835 as 115ETH. This would have made the Bored Ape #835 worth $391,000. Instead, the NFT was listed under DAI. DAI is one-to-one stability coin that can be used with the U.S. dollars.

Records show that the Mutant Ape NFT valued at $76,000 was sold by cchan.eth for only 25 DAI (or $25).

This made the community “feel bad” for the collector, and fears of them being hacked were being brought up. This has resulted in a loss of $470,000, and the NFT that they had previously owned is being sold at much higher values.

However, there were also some questions from the community about the actual transaction.

The move was allegedly made to avoid tax, according to Twitter user artchick.eth. However, she clarified that the transaction could have been a mistake and joined the half of the community which sympathizes with cchan.eth.

It feels like they are trying to evade taxes by selling their mutant for $25 in the same wallet

they’ll probably claim they were scammed and may even have the audacity to try to write it off, they bought the ape for 16eth

if it was a mistake, i wish them well, it’s quite a loss pic.twitter.com/lOvpZaaC9Y

— artchick.eth (@digitalartchick) March 28, 2022

OpenSea user chrisjkeith suggested that OpenSea add a prompt message to collectors who sell below their floor price.

“If you think a different icon (DAI vs ETH) is going to prevent people from losing hundreds of thousands of dollars, you’re crazy. The simple fix: when a seller goes to accept an offer 99.999% below the floor, maybe pop a dialog saying “hey, are you sure?”. FIX THIS,” chrisjkeith tweeted.

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