Bitcoin user’s costly error leads to record transaction fee of $510,000

by ChainChirp
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In response to on-chain information, a Bitcoin consumer spent a staggering 19 BTC, round $510,000, in transaction charges for transferring a mere 0.074 BTC, valued at lower than $2,000, on Sept. 10.

The typical transaction payment on the blockchain community was $2.176 as of press time, per data from Per mempool, the consumer overpaid greater than 480,000 instances for the transaction, making the payment the best ever recorded on the Bitcoin community.

Jameson Lopp, the co-founder of CasaHODL, who analyzed the incident, famous that the fats finger error could be because of buggy software program from an change or cost processor deal with.

In response to Lopp, the deal with has obtained and despatched greater than 60,000 transactions and certain miscalculated the change output, inflicting transaction payment errors.

“The deal with in query that made the payment calculation error has the traits of a withdraw-only sizzling pockets from an enterprise. It seems prefer it solely receives deposits from one deal with to prime up its steadiness from time to time,” Lopp added.

Bitcoin fees
Supply: Mempool

Chun Wang, co-founder of F2Pool, mentioned the 20 BTC charges shall be quickly held. The consumer answerable for the transaction has a three-day window to say these charges. Nevertheless, if nobody comes ahead to say them, miners will redistribute the charges.

This resolution goals to deal with the unclaimed charges pretty and equitably.

Curiously, it appears the consumer has not seen the error, as they’re nonetheless sending transactions from the pockets.

The publish Bitcoin consumer’s expensive error results in file transaction payment of $510,000 appeared first on CryptoSlate.

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