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

THELOGICALINDIAN - A almanac ethereum transaction fee has been paid today 26 actor to alteration 134

The user apparently alloyed up the fields on the amount of the alteration and the fee, eventually advantageous 10,668 ETH in fees, or $2.6 million, on a transaction mined by Sparkpool.

A daydream appear true, the chump beatific 0.55 ether, account $133.95, according to a record of affairs advertisement on the Ethereum (ETH) network. The money was beatific to an abode on the South Korean crypto barter Bithumb.

The funds may be absent forever. Most blockchains are congenital to anticipate affairs from actuality antipodal already the sender confirms it.

Moreover, the fee may accept back been broadcast to the altered miners beneath Sparkpool as a accolade for processing transactions.

Sparkpool said in a cheep on June 10: “We are added investigating the adventure of almighty aerial tx fee…There will be a band-aid in the end.”

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

There is suspicion of clandestine dealing, with some associates of the Ethereum association alleging abetment of the transaction by Sparkpool, or that it was an attack at artifice tax, or money laundering.

In general, the boilerplate ETH transaction fee is up added than 637% back January, as the arrangement became chock-full due to a aerial cardinal of affairs casual through it.

Transactional errors are not aberrant in the crypto industry, but they don’t generally appear as big as the latest ether gaffe. In 2017, addition paid 50 bitcoin (BTC) in transaction fees to accelerate aloof beneath 10 BTC.

Some analysts advance that blockchain networks should be able to adios affairs if the fee exceeds the boilerplate accomplished fees of the antecedent 10 blocks mined, aloof in the aforementioned way, say, the Bitcoin blockchain rejects fees that are too low.

What do you anticipate about errors in cryptocurrency transactions? Let us apperceive in the comments area below.

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