An investor dealing with Bitcoin Ordinals NFTs recently retrieved their funds after mistakenly overpaying for a non-fungible token (NFT) on the Bitcoin blockchain. The investor had believed they secured an NFT for roughly $1,287, but it turned out to be ten times that amount at $12,877. Sharing their blunder openly, they aimed to remind peers to verify details carefully in cryptocurrency dealings.
Costly Confusion Over NFT Purchase
The investor discovered post-transaction that they had actually paid 0.21 BTC—much higher than the intended 0.021 BTC. They publicly confessed their costly error, inadvertently alerting the seller of the NFT, Dan Anderson. Anderson responded to the investor’s post, recognizing it as his listing and offering to repurchase the NFT at the inflated price, citing his own mistake in the initial listing.
Return of Funds After Community Intervention
Anderson’s offer to repurchase the NFT for 0.21 BTC was accepted, and the investor was made whole again. The NFT was subsequently put back on the market for the correct amount. This incident underscores the importance of careful transaction verification, especially given other cases where individuals have kept funds received in error. An Australian crypto exchange recently faced a similar issue when a user retained $653,000 mistakenly sent to them.
Furthermore, in 2022, a couple failed to return $10.5 million sent by Crypto.com, leading to legal repercussions. Thevamanogari Manivel faced 18 months of community correction, and her husband will serve six months of community work after pleading guilty to theft in 2023. These events highlight the risks and ethical dilemmas present in the digital asset space.