roundedWritten by: Yangz, Techub News   Early this morning, CryptoPunk #2386, one of the 24 Ape Punks, was purchased by an address starting with 0x282 for 10 ETH. For a time, the NFT circle was full of "envy" and "doubt."   Indeed, even in today's sluggish NFT market, the floor price of CryptoPunk is still around 30 ETH, and buying the extremely rare#2386at one-third of the price is really shocking. You know, this Punk received a huge offer of 1,800 ETH in July 2022. After what happened today, some investors have already offered 600 ETH.So, how did this person "pick up the leak"? 0xQuit gave a detailed explanation for this. According to 0xQuit's analysis, the key to today's events lies in two points. The first is 0x282's own strong "detection ability", and the second is the "calculation errors" of other investors. The first point is easy to understand, but what about the "calculation errors" of other investors? In fact, as early as September 26, 2020, Punk#2386was divided into 10,000 ERC20 tokens by an NFT fragmentation protocol called Niftex, and was held by 257 investors before being "picked up" today. We know that in the NFT fragmentation protocol, in order to fully recover a certain NFT, investors generally need to collect all the "fragments". Niftex also set up another path called "Shotgun", which allows any fragment holder to propose a purchase price, and if no one objects, the NFT can be purchased in full after 14 days. 0x282 took advantage of this to successfully pick up the bargain. However, based on the transaction price of 10 ETH, the purchase price proposed by 0x282 was only 0.001 ETH per fragment. With such a low price, didn’t the other fragment holders of Punk#2386object? In fact, the Niftex protocol has long ceased operations (the contract is still valid, and the body of this Punk is also hosted by the contract), so many fragment holders may not have noticed the "Shotgun" proposed by 0x282 on August 28. Even the two investors who noticed the "Shotgun" failed to prevent the acquisition for different reasons.@0xQuit said that one of the fragment holders may have discovered the acquisition proposed by 0x282 very early, but did not take action in time due to the "14-day" time consideration. Although another holder, @gmoneyNFT, received a private message notification about the acquisition with 7 hours left and took action in time, he failed to actually prevent the "Shotgun" from happening due to a "calculation error."According to Niftex’s settings, in order to prevent “Shotgun”, fragment holders must purchase the “fragments” from the other party at a price higher than the bidder. The price proposed by 0x282 was 0.001 ETH per fragment, but @gmoneyNFT submitted 0.000001 ETH, which was lower than the requirement. In response to the incident, @gmoneyNFT stated that it “tried to operate with an amount exceeding (0x282), but an error occurred during the contract execution.” In the end, the “Shotgun” submitted by 0x282 passed smoothly.Regarding this incident, a large number of investors actually said that 0x282 was not "picking up a bargain" but "robbing." In response, @0xQuit commented, "This is not a code defect or a code vulnerability." And @gmoneyNFT also expressed his own views. He said, "I don't think this is a robbery. This is an arbitrage using smart contracts. If you like decentralized systems, then you have to accept its good and bad sides. This is part of the game. This is why we are here. If you don't like the rules, you probably shouldn't play this game."As for who this 0x282 is, no one knows yet. The authenticity of @ezeegainz who claims to be the lucky guy on X is also unknown. But no matter who it is, this ultimate "detection ability" and "luck" have made the author envious. Finally, "gg to the new owner."  

#ETH #NFT