The NFT of the Bored Ape Yacht Club (BAYC) was sold for 115 DAI ($115) in what looks to be an error or a fraud.
Monday, the person who used to own BAYC #835, known as “cchan,” agreed to sell it for $115. That’s 99.9% less than the current floor price for the popular NFT collection, which is the lowest price you can get.
Mutant Ape #11670 was sold to the same customer for $25 by the same person. The price for mutant apes is $22.6 ETH (about $76,000).
In this case, cchan thought DAI was ETH, but it isn’t clear why the owner would accept such low bids. Three further high-value bids for the Bored Ape were also made, but they were not accepted. They ranged from 75 to 106 ETH, but the Bored Ape was not sold to them.
A Bored Ape NFT hasn’t been sold for a low price by mistake before. For whatever reason, Bored Ape #3547 sold for $3,000 rather than $300,000.
“When I make lists every day, I didn’t pay attention. A bot used gas costs of more than 8 ETH ($34,000) to make a transaction, so I couldn’t cancel it in time, and $250k was gone.” The seller said this at the time.
A Сautionary Indicator
Before it could communicate with DAI, the wallet’s previous owner had to approve it. That implies they will have noticed a transaction requesting permission to use the stablecoin, indicating that the payment was not made using ETH. They sold both the Bored Ape and the Mutant Ape in less than a minute. This shows that they decided to accept both offers simultaneously, which explains why they did so.
Still, a check inside the buyer’s wallet indicates that it was not. The buyer has put DAI offers on a large number of Bored Ape NFTs, perhaps in an attempt to trick someone into thinking the offer is in ETH, allowing them to purchase it. If this is right, it implies that a set-up trap duped the merchant.
It’s also possible that if the seller’s account was hacked, someone might acquire access to it. In a Twitter tweet, a Bored Ape Yacht Club member claimed to have been hacked. He indicated that he had communicated with Chan and was unaware of the transactions.