Crypto User Pays $500,000 in Fees for $2,000 Transaction
Recently, an anonymous Bitcoin user shocked the crypto community by paying a staggering 19.89 BTC (over $500,000) in transaction fees to move just 0.074 BTC (worth less than $2,000). The payment was made to the Bitcoin mining pool F2Pool, which generated the valid block. The F2Pool team announced that the transaction would be held for three days in case the sender wants to claim it back; otherwise, it will be distributed among the pool’s miners.
According to Jameson Lopp, co-founder and CTO of CasaHODL, the transaction appears to be from an exchange or payment processor with faulty software. He stated that they likely calculated their change output incorrectly. Some users speculated that this unusually high transaction could involve some kind of deal between the sender and the mining pool, suggesting the possibility of BTC laundering.
Hot Take: Possible BTC Laundering or Software Bug?
An anonymous Bitcoin user recently paid over $500,000 in fees for a transaction worth less than $2,000. The payment went to the F2Pool mining pool, and the transaction will be held for three days in case the sender wants to claim it back. Jameson Lopp, co-founder of CasaHODL, believes the transaction was made by an exchange or payment processor with faulty software. Some users suspect potential BTC laundering, while others suggest a software bug. The average transaction fee for Bitcoin is currently $2.18, but fees have spiked during periods of price surges. It remains to be seen whether the sender will come forward or if the transaction fees will be distributed to miners in the pool.
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