Crypto whale accidentally loses $150,000 in failed prank
Published on Jul 28, 2022 at 7:38 AM (UTC-4)
by Alessandro Renesis
Last updated on Jul 28, 2022 at 7:38 AM (UTC-4)
Edited by
Alessandro Renesis
A crypto whale and well-known NFT collector known by the pseudonym Franklin has lost about $150,000 in an online prank gone wrong.
Franklin owns a lot of Ethereum, the world’s second-largest cryptocurrency after Bitcoin, and 58 NFTs from the Bored Ape Yacht Club, one of the most popular NFT projects in the world.
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The crypto fail all started with bid to buy an NFT address that was created on the Ethereum Name Service (ENS) system.
You may have spotted a growing number of people with Instagram and Twitter handles ending with .eth or .nft.
That’s because the user probably bought the NFT domain for the name they’re using.
And they want to show it off.
Crypto fail explained
Franklin asked his followers to suggest a domain that he place a bid on for 100 ETH and the ‘winner’ was the following ENS domain: stop-doing-fake-bids-its-honestly-lame-my-guy-eth.
He then accepted an offer to sell the domain for about 2 ETH, worth around $3,000.
The problem was that on the other end of the transaction, he had forgotten to cancel the bid to buy the domain for 100 ETH, or $150,000.
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And then it was too late. Ouch.
Franklin was gracious in defeat, as they say, and simply owned up to his mistake.
He even tweeted about it, making the whole ordeal public.
This is the latest of a long list of errors and bloopers that regularly cost crypto users and investors a lot of money.
It happens on a weekly basis.
This is partly because the crypto space is still (mostly) unregulated but also because transactions are irreversible.
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Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
