Bitcoin consumer’s expensive error results in document transaction price of $510,000

In accordance with 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 common transaction price on the blockchain community was $2.176 as of press time, per information from ycharts.com. This implies the consumer overpaid greater than 480,000 instances for the transaction, making the price 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 is perhaps as a result of buggy software program from an change or cost processor tackle.

In accordance with Lopp, the tackle has obtained and despatched greater than 60,000 transactions and sure miscalculated the change output, inflicting transaction price errors.

“The tackle in query that made the price calculation error has the traits of a withdraw-only scorching pockets from an enterprise. It seems to be prefer it solely receives deposits from one tackle to prime up its stability every now and then,” Lopp added.

Chun Wang, co-founder of F2Pool, stated the 20 BTC charges will likely be briefly held. The consumer accountable 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 handle the unclaimed charges pretty and equitably.

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

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