A Bitcoin User Reports a Hack and Record-Breaking Transaction Fee
A Bitcoin user has recently come forward to claim that they were the victim of a hack that resulted in the payment of a record-breaking $3 million Bitcoin transaction fee. The user, who goes by the handle @83_5BTC on X, stated that they had created a new cold wallet and transferred 139 BTC, worth over $5 million, to it. However, the funds were immediately transferred out to another wallet.
The user suspects that someone was running a script on their wallet with a strange fee calculation. They took to Twitter to express their thoughts and share their experience.
The Record-Breaking $3M Transaction Fee
On Thursday, a transaction on the Bitcoin blockchain made headlines by paying a fee of 83.65 BTC, equivalent to $3.1 million. This transaction set a new record for the highest transaction fee paid in US dollars for a single transaction on the network.
The transaction sent 55.77 BTC while paying an unusually large mining fee. The sending address used for the transaction was shared by @83_5BTC on X, and cryptography expert Jameson Lopp confirmed its authenticity.
Bitcoin Hack Fee Hits 60% of Stolen Funds
According to Bitcoin developer @Mononaut, the most likely cause of the exorbitant fee was a low-entropy wallet vulnerable to hacking. The transaction was quickly bumped using replace-by-fee, allowing senders to increase fees on pending transactions for faster confirmation.
@Mononaut theorized that multiple hackers may have targeted the vulnerable wallet, competing to steal the funds first. The high fee could be explained by scripts configured to spend a large portion of the transaction amount in order to hinder other attackers.
Blockchain Analysis and Reimbursement
The transaction fee amounted to 60% of the total balance swept from the wallet, providing further evidence of an automated script programmed to pay out 60% as a fee. The transaction was mined by AntPool and surpassed the previous record set in September.
It remains uncertain whether AntPool will consider reimbursing the fee, as F2Pool did in a similar situation. The Bitcoin community is actively investigating the addresses and transactions involved to gather more information about the hack.
Hot Take: Bitcoin User Claims Hack Triggered Record $3M Bitcoin Fee, 139 BTC Lost
A Bitcoin user recently reported being hacked, resulting in a record-breaking $3 million Bitcoin transaction fee. The user transferred funds to a new wallet, only to have them immediately transferred out. Suspecting a script with an unusual fee calculation, they shared their experience on Twitter.
The incident involved a transaction that paid an astronomical fee of 83.65 BTC, setting a new record high for single-transaction fees on the Bitcoin network. The high fee may be attributed to hackers targeting a vulnerable wallet and competing to steal the funds first.
Blockchain analysis and potential reimbursement by AntPool are being explored to gain more insights into the hack. This incident serves as a reminder of the importance of security measures when dealing with cryptocurrencies.
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