This way, they dumped their trash coins using high-liquidity lending, while simultaneously driving down Bitcoin and Ethereum prices to buy them back and cover their positions.
Sold users' Bitcoin and Ethereum, pumped their own trash coins, then used the inflated market cap to collateralize loans for more Bitcoin and Ethereum.
Then waited for the collateral to get liquidated, so they wouldn't have to repay the borrowed Bitcoin and Ethereum.
Introducing the OpenSea AI Creator Contest!
$10K in cash prizes, XP, and a chance to work with us.
Like, repost, and reply with your original AI work featuring OpenSea, NFT/memes, and/or crypto culture.
Submissions open now through August 22nd.
Additional details below 👇
Art Week for Voyages is now live!
A celebration of creators shaping onchain culture.
Drop your favorite artwork below.
Share the image. Tag the artist. Earn XP.
Let’s spotlight more artists together.
Welcome to the new OpenSea.