NFT trader Calvin Chan recently made some unusual NFT trades. He sold his Bored Ape, which he had bought in August 2021 for 16 ETH (then about $50,000), for 115 DAI ($115 — DAI is a stablecoin pegged to USD). Not only was this a near-total loss compared to the purchase price, Bored Apes’ floor price is around 107 ETH ($360,000), and this Ape likely could’ve sold for more than that. Chan also sold a Mutant Ape for 25 DAI/$25 to the same buyer — despite Mutant Apes’ floor price of 22.5 ETH ($75,000).Some initially speculated that he may have mistaken the offer represented in DAI for ETH, as 115 ETH ($387,500) and 25 ETH ($84,000) would’ve been pretty reasonable trades for the respective NFTs. However, the trader posted on Twitter that he had been “swiped … of his BAYC and MAYC… I am fine. In shock, but okay. Do i know what happened? No. Still trying to wrap my head around how and why.”

Total loss estimated at $425,000.