Someone borrowed 5 Bored Apes to claim $1.1 million of APE tokens

Quick Take

  • An unknown user took advantage of the way the ApeCoin airdrop worked to glean $1.1 million worth of it for themselves.
  • They used a flash loan to borrow five BAYC NFTs, while also claiming the airdrop and repaying the NFTs — all in a single transaction.

Yesterday, Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), airdropped ApeCoin (APE) to anyone who owns one of their NFTs.