NFT Trader Hanwe Chang’s Ingenious Plan Nets 800 ETH Profit Amidst Copycat Bot Battle

By Tsunami 08/7/23 4:52 AM

In the world of Non-Fungible Tokens (NFTs), trading has become a high-stakes arena, attracting both seasoned traders and newcomers. However, amidst the allure of NFTs, unscrupulous practices have emerged, including the use of bots to replicate trading strategies. One trader, Hanwe Chang, recently found himself facing this very problem but ingeniously turned the tables on the bot, leading to a significant windfall of 800 ETH (approximately 1.5 million USD) in profit.

Hanwe Chang, a prominent NFT trader, discovered a bot that was automatically mimicking his buy and sell orders on the Blur platform. Recognizing that the bot was capable of driving down the value of his assets, Hanwe decided to take matters into his own hands.

Noticed that someone’s bot was copying my bids on Blur, so I decided to trick him…

Made 800 ETH profit thanksss pic.twitter.com/KlaXKUFUBK

— Hanwe (@HanweChang) August 5, 2023

In response to the bot’s actions, Hanwe devised a plan to outwit the copycat and potentially turn the situation to his advantage. He quickly purchased 12 NFT Azuki with “Off White A” backgrounds at a starting price below 5 ETH each. Then, he listed them for sale at a steep price of 50 ETH (approximately 91,500 USD) per NFT. With this move, Hanwe instantly climbed to the top of Blur’s trading leaderboard, garnering approximately 16,000 points in a single day.

The owner of the copycat bot, identified as the Twitter account “Elizab.eth,” was taken aback by Hanwe’s trap and expressed a genuine desire to make amends. The individual agreed to return the funds, with Hanwe showing leniency and allowing them to keep 10% of the profits.

While many in the NFT community view Hanwe’s actions as a clever tactic within the realm of player-vs-player (PvP) trading, others question the legality of his approach. Some argue that Hanwe’s initial act of placing fraudulent out-of-market bids with no intention of accepting them could be considered illegal, as it was meant solely to provoke other bids.

The incident involving Hanwe Chang has sparked heated discussions within the NFT community, highlighting the inherent risks and loopholes present in the NFT market and the broader cryptocurrency ecosystem. As the popularity of NFTs continues to surge, regulators and platforms will likely face increasing pressure to address potential issues related to market manipulation and fraudulent practices.

Context on how @HanweChang executed a plan to perfection and made 800e by selling “Off White A – Background color” azuki at 50e each and azuki elementals at 15e each.

This is an epic case of PvP in the current NFT trading market ⚔️

Hanwe has been coasting at the top spot of… pic.twitter.com/M8Ujm8CquJ

— A-Raving-Ape.eth 🍌 (@a_raving_ape) August 5, 2023

Hanwe Chang’s encounter with a copycat bot is a testament to the dynamic and evolving nature of the NFT market. While some applaud his tactical prowess, others raise valid concerns about the legality of certain strategies.

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