Trader loses 70 ETH over bug in NFT marketplace Blur

Trader loses 70 ETH over bug in NFT marketplace Blur

Trader loses 70 ETH over bug in NFT marketplace Blur

A bug in the new bidding system of non-fungible token (NFT) marketplace Blur caused a user to lose 70 ETH by accidentally overbidding on an Art Gobbler NFT.


A bug in the new bidding system of non-fungible token (NFT) marketplace Blur caused a user to lose 70 ETH by accidentally overbidding on an Art Gobbler NFT.

Fast facts

  • “I lost 70 ETH when I was using the new bidding system of @blur_io,” tweeted pseudonymous NFT trader Keungz, who is also the creator of the Keungz Genesis NFT collection.
  • “When a user wants to input 0.1 ETH, if he enters a dot without zero, it becomes 1 ETH,” explained Kuntz, after the bug caused him to accidentally bid 70 ETH on Art Gobbler 8273, which had a floor price of 3.77 ETH.
  • Blur replied to the thread saying that its policy is to refund users for platform bugs but not for user errors, adding that the platform will offer a 50% refund in this incident.
  • “We originally considered the bid mistake to be a user error because there was no bug in the product per se. After evaluating further, we see how this can be considered a bug from the user’s perspective, so we will refund 50% to traders who were affected by this UI behavior,” wrote Blur, adding that they will offer automatic refunds for “collection bids that were accepted over 25% of the non-flagged floor [price]…”
  • Paradigm-backed Blur launched on October 19, branding itself as the “NFT marketplace for pro traders.”
  • Art Gobblers is an Ethereum-native collection of 2,319 NFTs created in August, depicting cartoon, animated monsters. The collection had a total trading volume of 11,548 ETH at 06:40 p.m. in Hong Kong.

Post Views: 143

Author profile

Zoltan Vardai

Zoltan is a writer at Forkast with a deep passion for storytelling and blockchain. Prior to joining the team, he worked as a marketing and content writer, focused on software and technology. Zoltan holds a master’s degree from the Ludwig Maximilian University of Munich and is interested in the future of global financial decentralization.

Delivered weekly on Thursdays

The Current Forkast

An unmissable weekly round up of the biggest stories in emerging tech from an Asian perspective, featuring commentary from Forkast Editor-in-Chief Angie Lau. Check out recent editions.

Leave a Reply

Your email address will not be published. Required fields are marked *