Today happened one of the biggest crypto punk heists of all time. Someone with a lot of patience and knowledge just bought ape 2386 for 10 ETH.
How 👇🧵
How 👇🧵
Once upon a time when fractionalisation was en vogue, ape 2386 was fractionalised and valued at like 450 ETH.
This happened on a now dysfunctional site called niftex.
The ape stayed fractionalised even after they shut down as it was in an escrow contract
This happened on a now dysfunctional site called niftex.
The ape stayed fractionalised even after they shut down as it was in an escrow contract
10000 shares were all distributed between loads of people. And a buyout was not possible. Until now.
The contract worked in a way that if you propose a buyout, a 14 day grace period was initiated where the rest of the shareholders had time to ponder and accept or reject it
The contract worked in a way that if you propose a buyout, a 14 day grace period was initiated where the rest of the shareholders had time to ponder and accept or reject it
14 days ago someone made a proposal for .001 eth per share. It was not rejected and went through.
Buying price: 10 ETH
last apes sold for 620 eth, 3.3k eth and 2.69 eth
Buying price: 10 ETH
last apes sold for 620 eth, 3.3k eth and 2.69 eth
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