A fake Banksy work offered as a non-substitutable token (NFT) has sold for more than £240,000, or roughly £97.2 million, through the British graffiti artist’s official website at an online auction. The buyer thought he was buying Banksy’s first NFT, even though he was only sniped at, even though he finally got his money back.
The NFT collector, known online as Pranksy, who is in his 30s and does not disclose his identity, believes Banksy’s website was hacked and that he himself was the victim of a carefully crafted scam.
However, the hacker returned the money to him on Monday night, excluding a transaction fee of around £5,000. The British collector called the incident bizarre and believes the hacker may have been frightened.
Banksy’s website published a new sub-page called NFT, which has now been deleted, which contained a link to an online auction site, and the NFT available for purchase was titled The Great Redistribution of the Climate Change Disaster.
After the artificial bid was much higher than the other bidders, the auction ended abruptly, and the amount was automatically transferred to the fraudster in the ethereum cryptocurrency.
Banksy hasn’t made any NDP, and no NFT auction is tied to the artist.
The popularity of the market for non-substitutable tokens almost exploded in February and March 2021. Each NFT has its own blockchain-based digital “seal” that verifies its authenticity and ownership.