A free cryptocurrency token was accidentally purchased for $ 200,000

A collector of non-fungible tokens accidentally bought a $ 75 NFT for $ 191,200. NFT is part of the Gemesis NFT collection owned by the OpenSea trading platform.

Gemesis tokens were issued as a gift to users in honor of the launch of the OpenSea Pro platform for professional users. The minimum value of NFTs from the collection is 0.04 ETH. The trader’s bid was 250,000% higher than the minimum.

Most members of the cryptocurrency community agreed that the collector was simply mistaken. Instead of bidding $ 100, he accidentally entered the purchase amount in ETH — 100 ETH. The seller, in turn, accepted the bid.

Yeah someone else put the 100ETH bid by mistake (He probably want to bid 100 as amount) and it got accepted by another one with 1500+ gwei gas

— 0xSun (@0xSunNFT) April 5, 2023

One Reddit user claimed that the trader had engaged in wash trading, which is the repeated purchase and resale of the same asset by a single trader within a short period of time to deceive other market participants about the value or liquidity of the asset. However, this version was criticized because the offer was open. Any fraud with the token was too risky — another trader or trading bot could intercept such a high bid.

As a reminder, in late March, a collector accidentally burned a digital NFT token worth $ 135,000. Brandon Riley bought CryptoPunk’s non-fungible token (NFT) #685 for 77 ETH and planned to hold it for the long term. Being an experienced investor, he knew how important it was to buy new NFTs right before the bull market started. As a result, he decided to borrow money against another token using the popular «wrapping» technique and accidentally sent the token to a burn address, permanently removing it from circulation.