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Blur fixes bug, affected NFT traders to get big bonuses

blur-fixes-bug-affected-nft-traders-to-get-big-bonuses
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Blur fixes bug, affected NFT traders to get big bonuses

Non-fungible token (NFT) marketplace, Blur, has fixed a bug in its message processing that affected some bids canceled in the last 80 hours.

Blur detects bug

Blur’s chief executive officer (CEO), Pacman, has released a statement confirming that they had detected a bug at around 8 pm PT. Afterward, they disabled the bid to accept a functionality. In 30 minutes, 36 affected bids were received. The team fixed the issue and bids were enabled 30 minutes later at 11:05 pm PT. 

Meanwhile, bids above the floor will be canceled automatically before enabling bids are accepted. The marketplace also implemented two more redundant safety checks to ensure the issue does not occur again.

The affected traders will be refunded twice the difference between their bid price and the proper top bid in ethereum (ETH). For example, if the top bid was 14.5 ETH and the affected bid accepted price was 15.5 ETH, the refund will be 2 ETH. The affected traders will, however, not need to sell their NFTs to get the refund, as Blur will send the amount within 24 hours.

The announcement’s response was mostly positive, with most enthusiasts calling it a “classy move” and professional. However, others were concerned about the security of funds on their platform.

User interface “bug”

In December 2022, Blur offered traders a 50% refund after a user lost 70 ETH due to an issue with the user interface. A user highlighted the issue on Twitter on Blur’s new bidding system and said that it could have been a human error that led to the mistake. 

The issue occurred after he deposited more than 140 ETH into the bidding pool and, by mistake, paid 70 ETH for an Art Gobblers NFT. Meanwhile, the mistake could have been avoided if the marketplace auto-added a zero before a bid with the first character as a decimal point.

Blur launched last year in mid-October and has been competing with OpenSea, which has been at the top for a while. Recent reports show Blur is responsible for 82% of this last week’s trading despite OpenSea introducing a zero fee incentive.