20:02
AN NFT COLLECTOR BURNS HIS $135K CRYPTOPUNK 🤦♂️
Brandon Riley is an NFT collector that bought CryptoPunk #685 for 77 ETH (~$135K) recently.
Well over the weekend, he accidentally sent it to a burn address and deleted it. (Whoops)
How’d it happen? Brandon was trying to wrap his CryptoPunk in order to use it as collateral to get a loan on NFT.fi, a borrowing & lending platform for NFTs.
But instead of using his own wallet address, he used the burn address (i.e. a wallet that no one has access to.)
*Poof* Just like that, CryptoPunk #685 is gone, forever.
Unfortunately for Brandon, this is still the wild wild west of crypto - there is no customer support or 1-800-I-F*CKED-UP number to call.
The lesson: Always quadruple-check the address you’re sending your assets to because you might be making a huge mistake.
Tonight we pour one out for our fallen fellow Punk.