Home Crypto News $2.6 million fee paid by wallet for a $133 transaction

$2.6 million fee paid by wallet for a $133 transaction

4 min read

Spark Pool, who acquired the fee, has determined to freeze its distribution till the sender is tracked down

In a puzzling flip of occasions, an Ethereum wallet has spent about $2.6 million in transaction charges, whereas the precise worth of the transaction is simply round $133. The mysterious transaction occurred at round 9.47 UTC, with the id of each the vendor and receiver unknown. The astronomic transaction fee was paid to the Chinese mining group Spark Pool.

Ethereum customers are free to resolve how a lot in transaction charges they want to pay to be included in a block. The extra they pay, the earlier their transaction is processed. However, there isn’t any motive to pay greater than a few {dollars} in transaction fee. Thus, many imagine that at the moment’s incident may very well be an accident on the a part of the sender.

The sender’s wallet was opened solely not too long ago and has a present stability of 46,000 ETH even after the 10,000 ETH transaction fee. Netizens have famous that the wallet has made transactions nearly each minute in the previous few hours, elevating speculations that it doesn’t belong to a person. Moreover, each transaction from the wallet, besides the one in query, has been processed with a regular transaction fee. Many have additionally related the wallet with Bithumb because the wallet has despatched a variety of funds to the crypto change. The receiver’s wallet is at present empty as funds have been transferred to different sources.

The particulars of the transaction point out it could have been an accident. It is feasible that the whale by chance reversed the figures for the transactions, a report by CoinDesk claims. Decrypt agreed with this evaluation, calling it the “most likely reason”. However, speculations in regards to the wallet belonging to a bot or a hacker have additionally surfaced.

Speaking about one of many unsettling elements in regards to the transaction, Alex Svanevik, founding father of D5, the info science DAO, stated, “Given the distribution of gas prices set by this wallet, I’d say this must have been some manual intervention on an otherwise programmatically controlled wallet.”

Another weird view in regards to the incident has linked the weird transaction with the 4,000 financial institution accounts of crypto merchants being frozen by Chinese authorities.

Responding to the incident, Qiu Xiaodong, head of the Xinghuo mining pool of Sparkpool said that the transaction fee has been frozen, and clues to establish the sender, in case the fee was despatched by mistake, are welcomed. In a related incident involving Sparkpool beforehand, the mining group agreed to separate the transaction fee 50-50 with the sender.

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