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Clever user makes $80K profit in CryptoPunk 'smash and grab'

Published 08/04/2021, 03:45 PM
Updated 08/04/2021, 05:20 PM
Clever user makes $80K profit in CryptoPunk 'smash and grab'

A crypto user was able to net roughly $80,000 in less than a day after purchasing a CryptoPunk for less than a penny.

According to blockchain records made available through Larva Labs, an unknown user purchased CryptoPunk number 3860 for 99 wei — worth next to nothing — earlier today after the artwork featuring a male character smoking a cigarette had sold for 30 Ether (ETH) on Thursday — roughly $69,369 at the time. The user was then able to resell the figure for 52 ETH, or $136,675 at the time of the sale.

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