NFTs accidentally destroyed by mistake on OpenSea, $100,000 goes up in smoke

NFTs accidentally destroyed by mistake on OpenSea, $100,000 goes up in smoke

The very first Ethereum Name Service (ENS) domain was accidentally burned on NFT (non-funglibe-token) platform OpenSea. A number of crypto traders have collectively lost about $100,000 due to a bug on OpenSea. The bug has been fixed in the meantime, but they can’t see the lost money again.

Nick Johnson, developer of the Ethereum Name Server, had this to say:

β€œIt turns out I was the first and apparently only victim of a bug introduced on their transfer page in the last 24 hours that affected all ERC721 transfers to ENS names. The property of rilxxlir.eth is now permanently destroyed.”

The bottom line is that Johnson wanted to send the ENS to his personal address, but it didn’t happen. Instead, a random and unused address was accidentally selected. This makes the mistake, unfortunately for Johnson, permanent. Folm.io crypto has enough information. Incidentally, Nick Johnson thought he was the only one who had this problem, but that turns out not to be the case. In total, 21 users were affected and 42 NFTs were lost with 32 transactions. Its total value was 28.44 ethereum (ETH), which was worth about $100,000 at the time.

NFTs have been popular for a long time

The NFT markets have been growing very fast for some time, which was confirmed by, among other things, the high trading volume on OpenSea. At the end of August, they were the first NFT marketplace with a trading volume above $1 billion.

Digital versions of monkeys, robots, rocks, clowns and other objects or figures are sold en masse for exorbitant prices. Renovato.io has enough information. For example, a Bored Ape, NFT of the Bored Ape Yacht Club, sold for a whopping $24 million today.

Incidentally, not everything that has to do with NFTs is equally rosy. For example, the fees on the Ethereum network are currently high. Founder Vitalik Buterin says that a layer 2 solution would offer a solution for this.

Ron Gonzalez