NFT trader outsmarts copycat bot; Rakes in 800 Ether
Yesterday, the dynamic world of NFT trading witnessed a cunning play by @HanweChang. Recognized in the industry as an astute trader, Hanwe realized that a bot was meticulously copying his every move. But instead of being outmaneuvered, he turned the tables, hoodwinking the bot into handing him 800 Ether, equivalent to a staggering $1.5 million.
Copycat trader gets wrecked; Asks for a refund
Hanwe had been making waves, consistently reigning supreme on the Blur NFT point farming leaderboards. His expertise and strategic bids were evident, making him the cynosure of many eyes, including a certain copycat bot. This bot, programmed to replicate Hanwe’s trades and bids, shadowed his every move on the blockchain.
Spotting the bot’s unerring mimicry, Hanwe devised an ingenious plan. By placing strategic bids, he manipulated the bot into making increasingly substantial commitments.
The bot ended up purchasing several overpriced Azuki NFTs. Each Azuki was sold for 50 Ether, roughly ten times its price, which led to Hanwe cashing in on a massive 800 Ether. This left the bot’s operator with a hefty price for their over-reliance on automation.
However, in a hilarious turn of events, the copycat trader (@Jampzer) revealed himself on Hanwe’s tweet and asked for a reimbursement of the “stolen” funds:
“We would like to discuss a bounty with you. We are offering a 10% bounty of any funds stolen from our bot, which are yours to keep if you return the remaining 90%”
Anything goes in “PvP trading”
The incident sparked a fervorous discussion on Reddit, with many questioning the story’s veracity. However, onchain data proves the trades did, in fact, occur.
While what Hanwe did is unquestionably legal, is it ethical? Many, including this reporter, argue in favor of its ethicality. It’s an irksome ordeal to have a bot tailing one’s every move on a transparent platform like the blockchain, especially when it’s nigh impossible to prevent such behavior.
By outsmarting the bot, Hanwe achieved two significant feats. Not only did he deplete the bot’s resources, rendering it incapable of further copying his trades, but he also sent a clear warning to any opportunists considering similar tactics.
The incident serves as a stark reminder of the vulnerability of automated systems, especially when they operate in transparent environments. While bots can be powerful trading tools, nothing trumps human intuition, strategy, and the ability to think several moves ahead.
