Express

Another $2.6 Million Worth Of Transaction Fee? Experts Infer A Bug In Wallet Software

Dawn Wu

Summary: The same address that sent 0.55 ether yesterday with a transaction fee of 10,666 ETH, nearly $2.6 million, squandered another appalling 10,668 ETH to transfer 350 Ether, which valued at $87,020.50.

The same address that sent 0.55 ether yesterday with a transaction fee of 10,666 ETH, nearly $2.6 million, squandered another appalling 10,668 ETH to transfer 350 Ether, which valued at $87,020.50.

Yesterday the crypto community witnessed a hectic transaction of $133 worth of ETH with a commission of almost $2.6 million, which some regarded as an accident. However, 16 hours later, another commission of close to $2.6 million worth of ETH proved the theory wrong. 

Forbes reported that experts from the Block and Cornell University both deemed the incident as software malfunction, which resulted in a swap of the transaction and commission.

By Dawn Wu

  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 19 hours ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 12 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 13 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 15 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 15 days ago
  • You need to login to comment.