EtherRock Sold For 444 Wei CoinMarketCope

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Ether Rock NFT

NFT Collector DinoDealer accidentally sold his EtherRock NFT for 444 wei instead of 444 ethereum.

About DinoDealer

DinoDealer has been a Twitter user with account @dino_dealer since January 2021.

Falling Out With Past Friend

According to Twitter user apez1lla, the EtherRock NFT was originally in a shared wallet.

About Ether Rock

EtherRock is one of the oldest NFT projects in existence having launched in 2017. There were only 100 EtherRock NFTs ever minted.

Launched in 2017, EtherRock was one of the first crypto collectible NFT-type projects on the Ethereum blockchain, having launched shortly after CryptoPunks. Only 100 rocks can ever be available, and each new virgin rock gets more and more expensive. This game is built entirely on the Ethereum blockchain, with a decentralized smart contract (deployed here) used to manage everything including the buying and selling of rocks, their prices and owners (though this website is still necessary so you can see pretty pictures of the rocks). These virtual rocks serve NO PURPOSE beyond being able to be brought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game :)

"DinoDealer claims that he had intended to list his Ether Rock for 444 ETH — worth a jaw-dropping $1.2 million at current rates.

But instead, he confused this for the smaller denomination of Ether, meaning it was advertised for sale on OpenSea at just 444 WEI.

Before DinoDealer could realize his fatal error, a bot snapped up the rock for just $0.0012 — and instantly began offering the NFT to the marketplace for 234 ETH. If sold, this would result in a tidy profit of about $650,000."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

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The Reality

Transactions on most blockchains such as ethereum are permanent and irreversible. Transacting requires great care to ensure that everything is correct, especially when large sums of money are at stake.

There are a number of bots interacting with the ethereum blockchain. These bots will very quickly take advantage of any common arbitrage opportunity in the market.

What Happened

NFT trader DinoDealer accidentally listed his EtherRock NFT for a price of 444 Wei instead of 444 Ethereum. The NFT was quickly purchased by a trading bot.

Key Event Timeline - EtherRock Sold For 444 Wei DinoDealer

Date	Event	Description
March 9th, 2022 11:07:00 PM MST	Original Twitter Post	DinoDealer first shares his story on his Twitter account.
March 17th, 2022 10:05:35 PM MDT	Shared On Reddit	The story was shared on Reddit.
March 18th, 2022 12:50:00 PM MDT	CoinMarketCap Article	The story is picked up by CoinMarketCap.
March 19th, 2022	CoinGape Story	The story is shared on CoinGape.

Total Amount Lost

The total amount lost has been estimated at $1,200,000 USD. However, $1.2m was the intended price of the EtherRock, and there is no guarantee it would have sold for that price.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

Twitter Community Reactions

Community reactions on Twitter were mixed, with some expressing sympathy, some condemning his actions, and others cracked jokes.

No WEI this happened.

Terrible news..wouldn't wish that on my enemy even

Kinda his own fault for not triple checking and also putting your entire net worth into a jpeg of a rock

How [on Earth] does one make this mistake

Should we call this a mistake or ignorant?

Ultimate Outcome

Ether Rock continue to be a popular NFT. apez1lla's Twitter account has since been suspended.

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.