It should be noted that errors in the interaction with NFT tokens occur quite frequently. For example, in December 2021, the owner of a token from the Bored Ape Yacht Club collection was reported to have lost nearly $300,000 on it.

The reason was that the investor mixed up the selling price and set it to 0.75 ETH instead of 75 ether. And the token was bought almost instantly: obviously, someone was waiting for another person's mistake. Read more about the situation in a separate article.

What’s the problem with the OpenSea platform

“Too cheap” was the sale of BAYC token #9991, which was owned by a cryptocurrency enthusiast under the nickname Tballer. It turns out he got rid of his NFT for just 0.77 ETH or about $1,700.


This price is a far cry from the actual level of sales of such tokens. According to sources, today the lowest price for representatives of this collection is 86 ETH, which is the equivalent of $208,000 at the current exchange rate. Accordingly, "sellers" of coins at low prices have lost tens and sometimes even hundreds of thousands of dollars, which they would have received in case of a fair deal.

Deals with “cheap” tokens

The buyer was someone named jpegdegenlove, who was also able to get hold of BAYC #8924 and BAYC #8274 for $14,700 and $50,800 respectively. As we have already noted, at the moment the minimum price of a single piece in the NFT collection is hovering around more than $200,000. Accordingly, the said collector has significantly “saved” on his transactions.

Activity on the jpegdegenlove wallet

According to Decrypt sources, the unknown user was also able to get hold of several NFTs from Mutant Ape, Cool Cats and CyberKongz. In total, the total value of his unique tokens comes to 322 ETH or approximately $782,000.

BAYC #9991

Several BAYC holders discussed on Twitter the reasons behind the incident. It turns out they didn’t fully understand how listings on OpenSea work. It turns out that some token holders of the type of user nicknamed TBaller had not paid the necessary commission for gas in Etherium to completely exclude their NFT from the sale. Instead, they used the OpenSea platform’s built-in feature for this purpose and simply transferred the token to another wallet. And when the NFT returned to the old address, the offer at the old price was again valid. This is what the buyer took advantage of.

In other words, this feature "does not completely cancel" the sale of the token, even if its owner on the platform does not want to make the transaction itself. Other users have been advised to enlist the help of the platform's Rarible tools, which can "completely cancel the listing" so that such incidents don't happen again.

Here’s a quote from a user who lost his token.

Guys, I just lost my monkey. I’m crying. How did this happen?

Note that the OpenSea platform has recently been the subject of criticism due to instability. Today, Larry Cermak from The Block, in particular, mentioned about the sudden break in the platform’s functioning. When trying to access the resource, the following error was displayed in his browser.

Error when trying to enter the platform OpenSea


We believe that this situation is once again a reminder of the peculiarities of the cryptocurrency and blockchain industry, of which there are many. You need to keep them in mind, because if you don't, you could lose a lot of money. That's why we recommend you to research and understand what's going on inside the industry before you get involved with it for large amounts of money. In addition, valuable NFT tokens should definitely be kept in hardware wallets.