In a remarkable twist that has captivated the Crypto community’s attention, an NFT trader named Hanwe Chang played it smart on the NFT marketplace Blur. He sold an NFT for 800 ETH worth $1.5 million.
However, the intense strategy creates a buzz about whether this is legal and ethical.
- NFT trader Hanwe Chang gained $1.5 million on the NFT platform Blur.
- The player detected a bot copying his bids and manipulated it into buying his NFT.
- Chang’s strategy involved his knowledge of how to make the bot mimic his behavior online.
Who is Hanwe Chang, and what did he do?
Hanwe Chang is an expert trader with a growing presence on social platforms like Twitter, where he disclosed his masterstroke on the 5th of August. He had detected a rival bot copying his bids on Blur and decided to play smart with that bot.
The trading game played out on Blur, a marketplace that gained traction through gamified incentives and rewarding users with tokens. Moreover, Chang’s strategy succeeded due to his expertise in bidding on NFTs with specific traits.
Furthermore, the act involved making the bot mimic his bidding behavior. By strategically placing a bid on his own NFTs, he tricked an unsuspecting trader into purchasing Azuki NFTs at an inflated price.
Hanwe Chang’s Clever Move
A moment arrived when 12 Azuki NFTs featuring identical “Off White A” background colors were simultaneously sold. Also, these were sold for 50 Ethereum each, valued at $91,500 apiece. However, this marked a substantial markup compared to a previous sale of a similar Azuki NFT for 5 Ethereum, approximately $9,000. A Raving Ape also shared his speculations through his tweet.
In addition, these 12 NFTs were clustered within Chang’s digital wallet. Also, with a notable portion of profits, he funneled them to the wallet labeled “hanwe.eth” via the Ethereum Name Service, as per Ethercan.
Interestingly, the bot’s owner called “elizab.eth” responded to Chang’s tweet with allegations of stolen funds and offered a 10% bounty if the funds were returned.
Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.