THELOGICALINDIAN - Strange things action in the cryptocurrency bazaar Prices fasten afterward abrogating account and absolute account is met with a able selloff Cryptocurrency barter founders are accused of appearance their own deaths and authoritative off with their barter assets But not abundant is drifter than seeing addition pay over 300000 in fees to accelerate a bald fifteen bucks account of Ether
Recent affairs accept been apparent on the Ethereum blockchain that appearance a transaction for 0.1 Ether, admired at about $14.80 at the time the transaction was beatific by advantageous 2,100 ETH in fees.
Mysterious Ethereum Account Sends 0.1 Ether, Pays 2,100 ETH in Fees
The cryptocurrency association is active agrarian with belief as to why a mysterious Ethereum wallet beatific 0.1 ETH while advantageous an ample 2,100 ETH in fees. The fees absolute over $302,000 at today’s Ethereum amount of $144, while the Ether itself that was beatific is aloof a beggarly $14.40.
https://twitter.com/AlecZiupsnys/status/1097876988835102720
At aboriginal glance, the sender appears to accept fabricated a user error, afield swapping the transaction fee with the abounding amount they were attempting to send. Crypto users frequently accomplish mistakes back sending crypto to one abode to another, occasionally alike sending crypto to the amiss asset blazon or wallet address. It’s the acumen it is consistently recommended users double- and alike triple-check the accepting abode afore hitting accelerate and signing a transaction.
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Taking a adventure bottomward the aerial aperture of an Ethereum wallet, keen-eyed crypto users apparent that this wasn’t the alone transaction like this example. In aloof one day, the wallet abode beatific 0.170000000000000002 ETH or almost $24, for a absolute of 3990.00000000000004 ETH in fees. The fees absolute about $575,000 at today’s prices.
The annual either has money to burn, is apprenticed by a adulterated bot, or potentially has an ambiguous motive. What that motive is, though, is yet to be understood, however, crypto sleuths everywhere are on the case.
Are the Strange Ethereum Transactions Tied to Money Laundering?
Some brainstorm that the aerial bulk of fees are actuality acclimated to acquit money in some way. The Twitter annual for the decentralized barter Saturn Network explains how the transaction fees could be acclimated to ablution bedraggled funds so they appears as “honest miner income.”
that's money laundering. You do not advertisement this tx, you abundance the block with this tx yourself. Once the block is included in the blockchain it is no best bedraggled corrupt baseborn ether. It is honest miner income.
— Saturn Network (@SaturnProtocol) February 20, 2019
The transaction wasn’t about broadcasted, which could advance that the block the transaction was in was mined by a complicit miner.
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Whatever the case may be, the wallet is either sending these affairs on purpose for one acumen or addition – potentially to acquit money – or is again authoritative some acutely big-ticket mistakes. One affair is for sure: these affairs were beatific with some of the fastest speeds the Etheruem blockchain has seen.
