THELOGICALINDIAN - Yesterday the Ethereum blockchain saw two apprehensive affairs a distinct bare abode alien by the crypto accessible beatific two affairs both with a transaction fee of 10668 ETH during a 16hour time span
The aboriginal transaction, which amount $2.5 million, beatific $130 of value. And the second, which additionally amount $2.5 million, beatific $87,000 account of Ethereum.
The affairs were anon flagged as acceptable mistakes, apparently acquired by a bug in the wallet software acclimated by the abstruse transaction sender.
While this adventure bound affective headlines, addition abode fabricated the aforementioned mistake, advantageous an acutely aerial transaction fee that is exponentially college than the cachet quo. This time, analysts advance that the Ethereum transaction may be accompanying to a hack.
Third Absurd Ethereum Transaction Sent in 24 Hours
Around 24 hours afterwards the additional $2.5 actor fee transaction, block campaign and individuals noticed addition apprehensive transaction: A user spent over $500,000 to accelerate 3,200 ETH, account about $750,000.
One of Primitive Ventures’ founding ally Dovey Wan, a notable crypto commentator, remarked in reference to the blockchain abstracts pertaining to the transaction:
From Bitcoinist’s attending at the transaction data, the abode that beatific this latest transaction had annihilation to do with the distinct abode that beatific the aftermost two high-fee transactions.
This raises the question: what happened?
According to Wan, there’s a acceptable adventitious that the abode pertinent to this transaction was hacked. She wrote:
A cryptocurrency researcher corroborated this, autograph that the transactor, revealed to be mining basin MiningPoolHub, was “probably hacked.”
This is actually altered than the antecedent two apprehensive Ethereum transactions, which were finer accounted by the association to be acquired by a bug. As The Block’s Larry Cermak postulated:
Associate assistant of computer science at Cornell University Emin Gün Sirer estimated that the bug acceptable swapped the advised transaction bulk with the transaction fee, consistent in a 10,668 Ethereum fee absorb instead of a 10,668 ETH transaction.
Part of a Wider Trend of High Fees
Although these affairs are bright outliers, they highlight one of Ethereum’s issues over the accomplished few weeks: aerial fees.
ETHGasStation shows that gas prices are currently 30 Gwei, about six times college than they were about the end of April. While this agency that a approved Ethereum alteration alone costs about $0.150, fees rapidly access to dollars if you appetite to collaborate with Ethereum-based acute contracts.
Such aerial fees may anticipate the acceptance of assertive acute affairs on the blockchain if there are not ascent solutions.
