$1M Precious Rock NFT Sells For A Penny In Sniper Bot Error

A $1M precious rock NFT sells for a penny instead of 444 ETH due to a simple error and a clumsy keystroke which led the sniper bot to cause the mistake so let’s read more in today’s Ethereum news.

A clumsy keystroke and actions of a sniper bot caused a $1 million mistake just a few days ago. The Precious rock NFT was valued at 444 ETH or $1.2 million but got sold for 444 WEI to a bot as the seller DinoDealer which confused WEI and ETH. The seller said that in one click, his net worth of $1 million dollars was gone. The rock valued at $1.2 million, was sold after a bot sniped came into usage on auction site eBay. The buyers were looking to time their bid the last second and use different tools but they are now prolific on NFT listings. The freelance website Upwork also lists bot sniping tools for the NFT platform OpenSea as little as $200.

How's your week?

Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth🤦‍♂️

Bot sniped it in the same block and trying to flip for 234 eth

In one click my entire net worth of ~$1 million dollars, gone

Is there any hope?

Am I GMI?

Can snipers show mercy? pic.twitter.com/yq9Itb2Ukb

— Rock dust 😭 (@dino_dealer) March 10, 2022

Once the bot snaps up the NFT or the digital receipt, there’s no going back. The blockchains are constructed to be immutable so mistakes like this one can be very expensive. Human error abounds in the crypto space like it was the case with an unfortunate BTC user who lost $10,000 in a mistake that could have been avoided if they double-checked the receiver’s wallet address.

The seller, DinoDealer seems to have come to terms with the loss and shared the address of the rock’s bot snipe. They uploaded a new Twitter profile picture and added a crying emoji as the new Twitter handle. The avatars stand next to the precious rock whcih is crossed out in red. More jokes came from the user’s attempt to reach out to the crypto customer service and the attempt speaks to members of the crypto community that got met with replies from suspicious users pretending to help and even offering email addresses but of course, you should not reach out to these numbers or emails.

The most month was quite tumulous for minor errors with huge consequences and in some cases, a simple mistake can wipe millions of dollars of market value which is quite common. A Coinbase white hacker discovered a mistake in the Coinbase Pro code which could have destroyed the market while a bot trading behavior drained the wTF token launch of 58 ETH. In better days for DinoDealer, other enthusiasts came to his aid and one even sent a picture of the rock with glasses and headphones.