A typo has just cost a person hundreds of thousands of dollars. He just misplaced a decimal point. The owner of Bored Ape NFT sold it for just over $3,000 in place of its intended market price of about $300,000.
The owner was actually trying to list the NFT at 75 ether but accidentally typed 0.75 ether instead. Before he could correct the mistake, the NFT was already bought. The buyer also paid an extra $34,000 to speed up the transaction. It appeared that the new buyer was actually an automated account because it again listed it on sale for nearly $250,000.
“I instantly saw the error as my finger clicked the mouse but it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” said the seller, Max.
Max also offered $50,000 to the buyer to retire the Bored Ape NFT but the new buyer sold the NFT for $150,000.
These “Fat Finger” errors sometimes happen in traditional banking and finance system but they can be reversed. In unregulated NFTs and cryptocurrency markets, there is no scope for such errors.
There have been several fat finger errors in cryptocurrency trades that made headlines in recent years. Now we are seeing similar incidents in NFTs. Last month, someone tried selling CryptoPunk NFT for $19 million but accidentally listed it for $19000.
