Someone Borrowed Bored Ape NFTs To Claim APE Tokens AirDrop Worth $1.1M

The creators of Bored Ape Yacht Club (BAYC) Yuga Labs on Thursday gave away ApeCoin (CRYPTO: APE) to anyone who owns one of their NFTs.

• They have given away 150 million tokens, or 15% of the total supply of ApeCoins to the owners of the Bored Ape Yacht Club and Mutant Ape Yacht Club. 
• The value of those coins was over $800 million and each BAYC holder received 10,094 tokens worth between $80,000 and $200,000. 
• However, someone took advantage of the giveaway by utilizing several unused Bored Ape NFTs to get an airdrop of $1.1 million in ApeCoin.
• The unknown user borrowed five BAYC NFTs to claim the airdrop after discovering them in a vault.
• This vault was built using the NFTX protocol. It contains Bored Apes: #7594, #8214, #9915, #8167, and #4755. 
• Rather than purchasing the NFTs, the person used a flash loan to claim the airdrop, then quickly sold the 60,564 ApeCoin on Uniswap.
• All together, the five Bored Ape NFTs are valued around 500 ETH ($1.4 million) at the current floor price.

Also Read: How Much Have Bored Ape Yacht Club Owners Made From ApeCoin?