Ethereum Name Service (ENS) names are decentralized domain names, linked to wallet addresses on the Ethereum blockchain. The popularity and therefore value of this particular form of domain names has been increasing in recent years.
Today, a major NFT collector lost 145,000 euros on his own ENS domain because of a failed prank.
Of course, the big question in this story is: how is it possible to lose 145,000 euros of Ethereum to your own ENS domain?
The answer to that question is simpler than you might think.
The original owner of the ENS domain sold the domain for 1.9 eth. Where things went wrong for Franklin is that the popular NFT collector forgot to cancel his own bid of 100 ether on the same ENS domain.
The new owner of the ENS domain did not hesitate for a moment and immediately accepted the bid of 100 ether that Franklin posted as a joke on his then still own domain.
“I tried to return your original 1.9 ether, hoping to reverse all transactions, but I understand if you want to keep the profit,” Franklin said in a message to the lucky buyer and seller of the ENS domain.
Little chance of Franklin getting his money back
It didn’t take long for Franklin to receive a response via Twitter to his request to reverse the transaction. That response, however, in all likelihood did not constitute the response Franklin was hoping for.
“I robbed this guy of 100 ether and then he deadpans me another 1.9 ether?” So says Twitter user 8892, clearly indicating that he has no intention of returning Franklin’s money.
Reactions to the whole thing are divided. Some people think 8892 should send the ethers back to Franklin and try to play on his emotions. Others label it as a case of “karma will pay” for Franklin. After all, he deliberately chose to bid 100 ether on his own domain name in order to generate “cheap” attention.
Should we feel sorry for Franklin?
With this whole story, Franklin has in all likelihood lost 100 ether or 145,000 euros. That’s a huge amount, but looking at the rest of his portfolio it’s only a drop in the bucket.
In fact, Franklin owns 57 Bored Ape’s that currently have a floor price of 100 ether each.
“I was celebrating the ‘joke of a sale’ of my ENS domain, but in my dream of greed I forgot to cancel my own bid of 100 ether on the same domain,” Franklin himself said about the incident.
So we don’t really have to feel sorry for Franklin. After all, if he liquidates one of his Bored Ape’s he will already have the lost ethers back.
Of course, 145,000 euros is a huge amount, but relatively speaking it’s not too bad.
Franklin losing 100 ether is comparable to the “common man” accidentally dropping a tenner in the street. The story will not have much impact on Franklin, but it is entertaining.