The Saudis hits number 1 on OpenSea as bots claim free mint, scammers attack Discord
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A new free mint NFT project called The Saudis has reached the number 1 spot on OpenSea on launch day, hitting 4,774 ETH within the first 24 hours. However, a cloud has formed over the project as around 10% of the NFTs were minted by one person who made around 194 ETH.
Jason Cline uncovered that the wallet used to sell the NFTs on OpenSea had used “tons of wallets” to bot the free mint, thus turning roughly $16,000 in gas fees into $234,000 in less than a day.
CryptoSlate analyzed the wallet to discover that 0x8026 has performed similar actions many times in the past. Previous projects such as Crypto Dads, Tubby Cats, Jungle Freaks, Galaxy Eggs, Shroomz, Racoon Mafia, Fang Gang, Al Cabones, and ChiptoPunks have all fallen victim to the scalper. The mints are bottled through associated wallets and then moved to 0x8026 to trade on OpenSea. The wallet currently holds 194 ETH, but its most significant balance was back in February when it peaked at 464 ETH.
In February, the wallet received hundreds of Tubby Cats NFTs from a smart contract owned by 0x8026 designed to snipe Tubby Cats from the deployer. The contract obtained 1,240 Tubby Cats and sold them for $1.4 million worth of Ethereum. The funds were then sent to multiple wallets via the Disperse app.
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