Cryptotrader Manipulates NFT Bot to Make 800 ETH Profit

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Cryptocurrency trading can often lead to unexpected turns, demonstrating the dynamic and sometimes questionable nature of the market.

In a recent incident that raised eyebrows within the crypto community, a skilled trader managed to earn a substantial profit by manipulating a bot that mimicked his trading moves.

Discovery of bots that copy trades

The story began when a cryptocurrency and NFT trader Hanwe Chang noticed that a particular bot was replicating his offers on NFT marketplace known as Blur. It appeared that the bot was attempting to mimic his trading strategies, trying to profit from the trader’s market moves.

Recognizing this, the trader decided to take advantage of the situation in a way that would ultimately lead to a significant profit.

It was a single tweet from Hanwe Chang that further amplified the gravity of the situation. In this tweet, Chang alluded to the deceptive actions that have taken place, further inciting discussion within the crypto community.

The tweet not only raised awareness of the incident, but also fueled debate over the trader’s actions and the bot’s vulnerability to manipulation.

See his tweet about the situation below.

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Manipulate the bot for profit

In a strategic move that highlighted the trader’s cunning, he initiated a plan to manipulate the bot’s shares to his advantage. Instead of making legitimate trades, the trader began selling NFTs that had little to no value at inflated prices.

This scheme allowed him to generate profits artificially, taking advantage of the bot’s uncritical emulation of his actions. The result? An impressive accumulation of 800 ETH, a substantial gain that reflects his ability to use the situation to his advantage.

Read also: Microsoft Edge’s built-in crypto wallet: a step forward or a questionable use of resources?

Developer seeking refund

When news of the incident spread, the developer behind the bot, which was called that elizab.eth ENScame forward claiming that the trader’s manipulations had led to the theft of funds from the bot.

Seeking restitution, the developer targeted Hanwe Chang, the Youtubers that he had discovered the deception and asked for a refund of the profits, but it didn’t take long elizab.eth ENS to tweet this:

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The story of the cryptocurrency trader who earned 800 ETH by manipulating a bot that copied his trades highlights the complexities and potential pitfalls of the digital asset market.

It sheds light on the susceptibility of automated systems to manipulation, the potential for significant gains through cunning strategies, and the ethical dilemmas that arise when exploiting such vulnerabilities.

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