The Azuki NFT Drama: How a Trader Outwitted Bots for a $1.5M Profit

Picture of NFT trader Hanwe Chong who tricked NFT bots on the Blur Marketplace

In a daring twist, NFT trader Hanwe Chang outsmarted a rival bot on the up-and-coming Blur NFT marketplace, raking in a whopping 800 Ethereum (around $1.5 million). Chang’s strategy involved tricking the bot into purchasing his Azuki NFTs at an inflated price. Here’s how this genius, possibly illegal (?) move played out.

TL;DR:

  • Savvy NFT trader Hanwe Chang earns $1.5 million by outsmarting a rival bot on Blur marketplace.
  • Chang strategically tricks the bot into buying his Azuki NFTs at inflated prices.
  • The incident sparks debates over ethics and legality, highlighting risks and rewards in NFT trading.

Picture of NFT trader Hanwe Chong who tricked NFT bots on the Blur Marketplace

How Hanwe Chang Tricked NFT Bots For Millions

Hanwe Chang, an adept trader known for his strategic prowess, ingeniously hoodwinked an unsuspecting rival bot into purchasing his Azuki NFTs at an inflated valuation. The stratagem unfolded on Blur, an innovative NFT marketplace that has set tongues wagging with its unique gamification elements.

Chang’s feat was orchestrated through a series of transactions involving a curated selection of Azuki NFTs. This is a collection of 10,000 anime-inspired avatars that have reached the zenith of popularity and value within the Ethereum ecosystem. Moreover, all 12 Azukis, elegantly stored within a digital wallet, bore the distinctive background hue, “Off White A.”

The bot had been copying Chang’s bids, which he cleverly turned to his advantage. Chang’s Azuki NFT collection, known for its anime-inspired avatars, had a distinctive “Off White A” background. So, Chang posted a 50 Ethereum bid each on his Azuki NFTs, prompting the bot to buy all 12 for 600 Ethereum ($1.1 million). He further transferred 200 Ethereum to his main account. Chang also shared his tactics on Twitter, showcasing his impressive profit.

Is This Even Legal?

Amid the fervor, Dave III, an anonymous NFT influencer, weighed in with criticisms, dubbing Chang’s actions as “illegal market activity.” He also issued a warning against glorifying such manipulation, emphasizing the transgressions inherent in purposefully triggering bids that one has no intention of honoring.

Yet, the opinions were as diverse as they were vociferous. Counterarguments rallied around the notion that Chang simply outsmarted”elizab.eth”, ultimately exonerating Chang from moral wrongdoing.

Furthermore, Gabriel Shapiro of Delphi Labs highlights the legal complexities and the possibility of recompense. However, the outcome remains uncertain, with Chang’s potential return of funds and “elizab.eth”‘s legal actions yet to unfold.

This episode sheds light on the high-stakes world of NFT trading on Blur and similar platforms. It also emphasizes strategic finesse, potential gains, and the ethical dilemmas intertwined with automated trading.

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