Fat Finger Mishap: Trader Loses $190K in OpenSea’s NFT Marketplace

Only three days after OpenSea Pro was launched, a trader on the non-fungible token marketplace fat-fingered a Gemesis $NFT bid and lost 100 $ETH, which is equivalent to around $190,000 at spot rates as of April 5.

According to reports, the “Blur Farmer” mistakenly placed the bid for the freely distributed Gemesis $NFT, which was a thank-you to some Gem users after OpenSea acquired Gem in April 2022.

While some people suggest that the 100 $ETH bid could have been a wash trade, others believe that the fat finger was an accidental mistake.

Unfortunately, the bid was instantly accepted, and the $NFT was transferred to the farmer, who now owns a Gemesis $NFT currently traded at 0.03 $ETH in the open market.

The immutable nature of cryptocurrency transactions makes it impossible to reverse the transfer once it has been confirmed in the network.

As a result, the identity of the bidder remains unknown, but on-chain transactions indicate that the bidder is an active trader on Blur, an OpenSea competitor, and a community-driven $NFT marketplace.

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OpenSea launched OpenSea Pro to counter Blur and provide a platform for Ethereum $NFT trading. The OpenSea Pro documentation claims to be the “most powerful $NFT aggregator,” providing professional traders with a new level of optionality, selection, and control.

The platform aggregates $NFT prices across 170 unique marketplaces and introduces live cross-marketplace data, instant sales, advanced orders, and other features.

The platform’s release coincided with the Gemesis $NFT drop, which allowed early adopters of Gem to mint free assets until May 4, 2023. Of 180,000 Gem NFTs available for minting, only 43.1% have been collected as of April 6.