Crypto investor used leveraged funds to get into the list of the most expensive non-fungible tokens from the Larva Labs studio
The owner of NFT # 9998 from the CryptoPunks collection put the token up for sale for a record $ 124.4 ETH ($ 532 million at the time of sale) and used the borrowed funds to buy it from himself. After the transaction, the crypto investor repaid the loan. Thus, the owner of the CryptoPunk # 9998 token got into the top of the most expensive NFTs from the Larva Labs studio. The purchase fee was 0.19 ETH (about $ 800).
Later, representatives of the Larva Labs studio admitted that, in fact, the transaction was illegal, since the investor acquired the NFT from himself. The studio has removed the deal from the list of the most expensive NFTs, and also promised to add filtering of such transactions so that they do not appear in the top in the future.
At the moment, the most expensive NFT from the CryptoPunks collection is # 7523 ("Alien"). It was sold by auction house Sotheby's in June for $ 11.8 million. CryptoPunks is a collection of 10,000 digital avatars in the form of humans, monkeys, aliens and other creatures, created in the form of NFT.