Blur offers 50% refund to NFT trader who lost 70 ETH due to bug

Blur offers 50% refund to NFT trader who lost 70 ETH due to bug

A Twitter user complained that the UX issue at Blur made him accidentally bid a token and lose 70 ETH. NFT marketplace offered him a 50% refund.

A pseudonymous Twitter user Keungz opened up about losing a whooping 70 ETH (about $83,300 at press time) while using Blur’s new bidding system. 

Keungz thought this was his fault due to the lack of sleep. However, he later found out that there was a problem with Blur’s UI/UX.

The loss occurred after the user deposited more than 140 ETH into the bidding pool and accidentally paid 70 ether for an Art Gobblers NFT with a far smaller floor price.

The trader explained that this error could have been avoided if the marketplace auto-added a zero in front of a bid with a decimal point as its first character. Secondly, Keungz urged the marketplace to add the ‘place bid’ button on the bidding interface when the price is higher than the floor.

Despite losing a fortune in Blur’s marketplace, Keungz claimed it was still “the coolest marketplace atm.”

Blur swings to action and compensates Keungz 50% refund.

In response to Keungz’s and other Twitter users’ complaints, Blur admitted the bug and offered 50% compensation:

The NFT platform added the following:

“Specifically, we will query for collection bids that were accepted over 25% of the non-flagged floor and refund them automatically. We’ll do this within the next 10 days (likely sooner).” 

In the middle of October, Blur launched so much fanfare from the NFT community — muscling in on an increasingly competitive market corner. The move to refund victims of their platform’s poor interface comes just days following the platform’s second airdrop to its users.

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Tolulope Ogundalu

Tolulope is an expert crypto content writer, blockchain content analyst, and DeFi writer with over 5 years+ of progressive content development experience working with several crypto exchanges, blockchain-based companies, and DeFi startups.