CryptoPunk #9998 was bought by its owner for a record $532 million

The collection of non-fungible CryptoPunk tokens regularly flashes in the cryptocurrency community, attracting more and more interest from investors. Yesterday one of its copies was sold for a record 124,457 ETH, equivalent to more than $540 million at the current exchange rate on the Binance exchange.

Perhaps a seller who has multiplied his investments so many thousands of times could only be congratulated if he himself had not been his buyer. Yes, according to the records in the blockchain, the owner of CryptoPunk #9998 purchased this NFT from himself for borrowed money, and then repaid the cryptocurrency loan with the same transaction. This "incident" was reported by the head of Larva Labs, who once created a replacement collection of these pixelated avatars.

A similar tactic of “flash loans” has already been tried to be used as payment for tokens. So, for NFT CryptoPunk #5362 they offered 4,206 ETH or $18.2 million.

A member of the research organization Flashbots stated that under contract CryptoPunk #9998 was put up for sale for 124,457 ETH, after which someone borrowed an impressive amount of money in the form of a short-term loan and purchased this NFT. At the same moment, the first contract sent money to the second, and then the loan was repaid. He also suggested that someone simply wanted to exchange hundreds of thousands of ETH tokens, having come up with an extremely interesting way to launder funds and spent "only" $800 in commission on the venture.

After the incident, representatives of Larva Labs wrote in their Twitter account that they would soon add filters to notifications about completed transactions with the participation of the NFT under consideration. In them, transactions based on short-term loans will no longer be available. Analytical platform CryptoSlam, which tracks all high-profile NFT sales, said it intends to remove data on the transaction with CryptoPunk #9998 from the resource statistics.

Thus, the most expensive NFT in the collection sold to date is CryptoPunk #7523, also known as COVID Alien. It was bought in the summer of 2021 for 4,520 ETH, the equivalent of $11.8 million at the time on Binance.

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