NFT Trader Admits Nabbing $1.5 Million in Ethereum After ‘Elizab.eth’ Gets Rekt on Blur A

NFT Trader Admits Nabbing $1.5 Million in Ethereum After ‘Elizab.eth’ Gets Rekt on Blur A series of transactions on the NFT marketplace Blur has captivated Crypto Twitter and sparked questions of legality after a prolific trader going by the name of Hanwe Chang duped a competitor into buying certain Azuki NFTs at an inflated price. “[I] noticed that someone’s bot was copying my bids on Blur, so I decided to trick him,” Chang said on Twitter, adding he had made a profit of 800 Ethereum with the strategy, netting close to $1.5 million. A relative newcomer compared to NFT marketplaces like OpenSea and SuperRare, Blur surged ahead in terms of trading volume earlier this year due to gamified incentives that reward users with tokens based on trade-related activity. This includes rewards for users that bid on NFTs by trait, a practice in which Chang has become established, according to Blur’s leaderboards. Profile picture NFTs, including those from Azuki, often have unique qualities that can impact their value based on rarity, like eye color or clothing. On Saturday, 12 Azuki NFTs that shared the specific background color “Off White A” sold simultaneously for 50 Ethereum worth $91,500 each. The previous Azuki NFT with an “Off White A” background had sold for less than 5 Ethereum.