Nightmare Come True: User Pays $2.6 Million in Transaction Fees to Send $134 of Ether

Nightmare Come True: User Pays $2.6 Million in Transaction Fees to Send $134 of Ether
фото показано с : news.bitcoin.com

2020-6-11 00:15

A record ethereum transaction fee has been paid today: $2.6 million to transfer $134.

The user probably mixed up the fields on the value of the transfer and the fee, eventually paying 10,668 ETH in fees, or $2.6 million, on a transaction mined by Sparkpool.

A nightmare come true, the customer sent 0.55 ether, worth $133.95, according to a record of transactions broadcast on the Ethereum (ETH) network. The money was sent to an address on the South Korean crypto exchange Bithumb.

The funds may be lost forever. Most blockchains are built to prevent transactions from being reversed once the sender confirms it.

Moreover, the fee may have since been distributed to the different miners under Sparkpool as a reward for processing transactions.

Sparkpool said in a tweet on June 10: “We are further investigating the incident of unusually high tx fee…There will be a solution in the end.”

The Chinese miner has previously repaid a user half of the 2,100 ETH accidentally paid as fees in a 0.1 ether transfer.

There is suspicion of underhand dealing, with some members of the Ethereum community alleging manipulation of the transaction by Sparkpool, or that it was an attempt at evading tax, or money laundering.

In general, the average ETH transaction fee is up more than 637% since January, as the network became congested due to a high number of transactions passing through it.

Transactional errors are not uncommon in the crypto industry, but they don’t often come as big as the latest ether gaffe. In 2017, someone paid 50 bitcoin (BTC) in transaction fees to send just under 10 BTC.

Some analysts suggest that blockchain networks should be able to reject transactions if the fee exceeds the average highest fees of the previous 10 blocks mined, just in the same way, say, the Bitcoin blockchain rejects fees that are too low.

What do you think about errors in cryptocurrency transactions? Let us know in the comments section below.

The post Nightmare Come True: User Pays $2.6 Million in Transaction Fees to Send $134 of Ether appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Data Transaction Token (XD) на Currencies.ru

$ 0.0001405 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0001405 - H: $0.0001405
Капитализация $27.821k Rank 99999
Доступно / Всего 197.974m XD / 1b XD

fees fee transfer transaction 134 user million

fees fee → Результатов: 126


UK’s Financial Conduct Authority (FCA) Revises Crypto-Based Business Registration Fee

Following a series of consultative forums with the virtual assets community, UK’s Financial Conduct Authority (FCA) has revealed that its revising crypto businesses registration fee upwards. The regulator has henceforth rolled on two distinct registration fees for crypto-based businesses according to their sizes AMBCrypto reports.

2020-2-3 23:24


UK's Financial Conduct Authority updates cryptocurrency business registration fees

After consultation with the digital assets community, the Financial Conduct Authority (FCA) of the UK has announced that it has updated the registration fee for cryptocurrency businesses. Two separateThe post UK's Financial Conduct Authority updates cryptocurrency business registration fees appeared first on AMBCrypto.

2020-2-3 18:30


Фото:

Getting In and Out of the Cryptocurrency Economy Can Be Costly

Since bitcoin and digital currencies have become popular, fiat on and off-ramps have sprung up that allow investors to enter and exit the cryptoconomy. However, many of the entryways into cryptocurrency markets have a hefty fee between 1-4% of the overall purchase and in order to obtain fiat for crypto the fees are just as […] The post Getting In and Out of the Cryptocurrency Economy Can Be Costly appeared first on Bitcoin News.

2019-12-24 18:00


Фото:

Huobi Exchange Extends Allstar VIP 6 Year Anniversary Promotion

Huobi Global, cryptocurrency exchange offering users bitcoin trading as well as a vast array of altcoins, has announced the extension of its “All Star VIP 6th year Anniversary Fee Promotion,” to enable existing professional and potential professional tiered fee traders to enjoy very low trading fees till January 2020 (GMT+8), according to a blog postRead MoreRead More.

2019-10-25 13:00


Dan Larimer On 30k EOS Hack, “No Different Than High Fee Transaction Spam On BTC Or ETH”

An exploitation of EOSIO allowed an attacker to gain 30,000 EOS worth over $110k by winning every roll on the gambling decentralized app (DApp) EOSPlay. The attacker used REX, the Resource Exchange is a bucket that collects all the EOSIO resource fees including RAM sales and name auctions, to have the blocks filled with transactions […]

2019-9-15 17:52


Фото:

New Betting Game Allows People to Wager on BTC’s Next Block Fee

Bitcoin core (BTC) prices have been rising sharply over the last few weeks and people have also noticed BTC transaction fees have spiked as well. Now there’s a new gaming site called Guess Bitcoinfees allowing people to bet on the 24-hour average transaction fee for the next day and the site pays out jackpots in […] The post New Betting Game Allows People to Wager on BTC’s Next Block Fee appeared first on Bitcoin News.

2019-6-23 17:30