Bitcoin Ordinals Trader Reclaims Misplaced Funds After NFT Purchase Error
Summary:
A Bitcoin Ordinals trader mistakenly bought a nonfungible token (NFT) for $12,877 instead of the intended $1,287 on the Bitcoin (BTC) network. The trader shared the incident to encourage others to double-check transactions. Subsequently, the seller, Dan Anderson, saw the shared story and pledged to return the misplaced funds. The scenario underscores the need for careful review in digital asset transactions, as not all recipients of cryptocurrency mishaps display a willingness to return excess funds.
A Bitcoin Ordinals investor successfully recovered his misplaced funds after erroneously purchasing a nonfungible token (NFT) for $13,000 on the Bitcoin (BTC) network. On the 1st of March, an incident surfaced on a platform, X, where the trader narrated the colossal misstep he made while venturing into BTC-oriented NFTs. The investor believed he had acquired an NFT for 0.021 BTC, equalling approximately $1,287, only to receive a shocker after the exchange that the NFT's asking price was 0.21 BTC - around $12,877.
PrincePablos, the internaut trader on this occasion, shared about his predicament on platform X. The trader expressed his humiliation, illness, and conceded that a fortunate entity ended up receiving an unanticipated financial windfall. He recounted this incident with a cautionary undertone for other individuals in the digital asset trading arena, emphasizing the need for meticulous examination of transactions before finalizing them.
Acceptance of the loss was the immediate response of the trader but the NFT seller, Dan Anderson, found the post on X, pledged to return the excess money. Anderson elucidated that the NFT listing was his and had already proposed a marketplace offer to repurchase the NFT using 0.21 BTC. Anderson recommended that the trader accept this offer to recover his loss.
An offer made to buy back the NFT was accepted and the funds were restored to the rightful trader. At this time, the NFT finds itself back in the market with an asking price of 0.21 BTC.
It's important to note that although this trader successfully reclaimed his funds, not everyone who accrues crypto mistakenly displays an equal willingness to return the surplus. An instance of this occurred on February 26 when the Australian crypto exchange OTCPro inadvertently transferred $653,000 to a user instead of the intended $65,300, owing to a human error. The exchange alleged that the user has since ignored all communication attempts including emails, phone calls, and court summons regarding the mistake.
In 2022, a poignant episode arose where a couple, mistakenly on the receiving end of $10.5 million from Crypto.com, unabashedly splurged on luxury goods, including a mansion, instead of returning the excess cash. By September 2023, Thevamanogari Manivel received a sentence of 18 months of community correction along with six months of gratuitous community work. Her husband, in December, confessed guilty to a collective theft charge.
Published At
3/1/2024 2:42:54 PM
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