- Token Economy
A CryptoPunk NFT appeared to sell for $530 million after an on-chain transaction in this scam. While CryptoPunks have sold for as much as 4,200 ETH in the past, the fake sale would have been the largest by orders of magnitude. As reported above, it appears that the owner used a flash loan to make the fake purchase of the Punk, borrowing and repaying 124,000 ETH. The move was likely a marketing stunt.