A Crypto Trader Outsmarts a Bot and Earns $1.5 Million Worth of Ethereum
A savvy trader named Hanwe Chang recently revealed how he managed to bag $1.5 million worth of Ethereum by outsmarting a bot on the NFT marketplace Blur. Here are the key points of his strategy:
1. Hanwe noticed someone using a bot to copy all of his trades on Blur.
2. He formulated a plan to take advantage of this by accumulating NFTs from popular artist Azuki.
3. Hanwe placed extremely inflated bids on all the NFTs from a separate wallet, aiming to lure the bot.
4. Once the bot blindly copied his bids, Hanwe sold all his Azukis to the bot at needlessly high prices.
5. Despite the top bids for the NFTs being under five ETH, Hanwe managed to sell them for 50 ETH each to the bot.
Gabriel Shapiro, general counsel at Delphi Labs, suggests that the bot owner may have legal recourse to recover their ETH. However, the profits seem to have been moved to Hanwe’s Ethereum address.
Hot Take:
This story showcases the ingenuity of crypto traders and how they can outsmart automated systems. It also highlights the potential legal implications involved in such situations. It’s a reminder that even in the crypto world, there are risks and opportunities for both traders and bot operators.
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