New record ! Over 10,000 ETH paid as a transaction fee just to move $130 of Ethereum !!

[George10 9932]

On 6/12/2020 at 7:25 AM, Whited35 said:

SparkPool has just shared a tweet assuring like they are more likely to solve this problem.

I think there were some puzzling factors and user was intended to send over 10000 ETH with 0.55 ETH as a fee but accidentally switched the two fields.

That could be the case mate I agree with you that maybe user made the mistake by swapping the values it's for this reason we must be very careful when making transactions in crypto world because just a slight mistake can cost us a lot and I hope this error was solved by Sparkpool and user was compasated otherwise it could have been a big loss.

[Whited35 15285]

2 hours ago, George10 said:

That could be the case mate I agree with you that maybe user made the mistake by swapping the values it's for this reason we must be very careful when making transactions in crypto world because just a slight mistake can cost us a lot and I hope this error was solved by Sparkpool and user was compasated otherwise it could have been a big loss.

@George10 Case was quite different for this regard. Fortunately, I have already posted an update for this. You can also check it here. Hackers were trying to misuse the hacked ETH by using highest network fee on the Ethereum blockchain network. 

[Whited35 15285]

20 hours ago, overkill11 said:

That's very unfortunate for them. Losing that much vantage must drive one depression. They had so much power lost in such a simple mistake. Beware cryptocurrency friend's

@overkill11 There were exchange hackers who had the limited access to the exchange's wallet. It was not a mistake from a user. The update has been already made even in this discussion thread, please kindly view my previous reply. Thanks . 

[Whited35 15285]

13 hours ago, Suparna said:

This would be a milestone for Ethereum Coins to reach massive publicity and profitable conditions, I think. Earth is in the next position which is one of the most significant of all coins and Etherium is in a good position to be accepted by all.

@Suparna We are talking about an unusual transaction on the Ethereum blockchain network, I really did not get your point correctly here. Are you trying to cite like this sort of attempts have given more publicity to the ETH and Ethereum blockchain network ?

[Tetrisreal 219]

This can be avoided with the same wallets they use, I have programmed some time and I must say the best option so that the user does not make so many mistakes using a platform is not to give him all the possible manipulation options.

[hassan raza 87]

Oh This is just insane . The person who is holding such a big money how can send a very high fees which we cannot afford . I think this person got eth free from airdrop or bought eth in the begging of eth production when 1 eth was equal to some cents . He did a biggest mistake of his life . and this will be go to a miner account and make a miner richi rich.

[DennisChannels 238]

On 6/12/2020 at 2:25 PM, Whited35 said:

Getting surprised? But yes it is true😁 ! Someone just made a $2.6 million mistake on Ethereum. News was published on decrypt which suggests , someone has accidentally paid  all time highest gas fee to move 0.55 ETH to an address provided by Bithumb exchange where 10,668 ETH was paid as a gas fee to miner and fortunately,transaction was mined by SparkPool(One of the largest Ethereum mining pools in this world). SparkPool has just shared a tweet assuring like they are more likely to solve this problem.

I think there were some puzzling factors and user was intended to send over 10000 ETH with 0.55 ETH as a fee but accidentally switched the two fields.

Sorry for answering an old thread, but I couldn't stop laughing, I didn't know this case!! 😄 

 

The funniest part is I would have never believe such thing 3-4 months ago, but after checking prices of ETH network and gas fees since DeFi fiesta, I firmly believe this... and it's madness!! Everyone praises ETH, but it's totally unconceivable that something like this can happen...

 

Cheers! 

Edited October 24, 2020 by DennisChannels

[Whited35 15285]

7 hours ago, DennisChannels said:

The funniest part is I would have never believe such thing 3-4 months ago, but after checking prices of ETH network and gas fees since DeFi fiesta, I firmly believe this... and it's madness!! Everyone praises ETH, but it's totally unconceivable that something like this can happen...

@DennisChannels Make sure you have checked my previous reply. Good Cycle exchange got hacked multiple times and attackers got access to the system to create a flood of transaction in this way. It was something serious matter. Once you study it, you will know everything. 

[DennisChannels 238]

3 hours ago, Whited35 said:

@DennisChannels Make sure you have checked my previous reply. Good Cycle exchange got hacked multiple times and attackers got access to the system to create a flood of transaction in this way. It was something serious matter. Once you study it, you will know everything. 

Man!! This point deserves a whole topic/thread itself, not a simple post. Nobody reads the whole body of the thread, and when people do, it's fast and not in detail.

 

Really interesting, so the Good Circle's has been hacked and the hackers made the system believe the charge was legit and the user circumstances allowed such ridiculous fee. The cyber-delinquents must be really happy with the blockchain: no more guns and bank robbery anymore XD

 

Interesting case. Here comes the real challenge of this new economic era.

[Cryptomint 433]

Haha! This feature is only in one coin that we call Ethereum because it has the gas fee to transact the coin so the gas fee fluctuate always.

[khan22 3478]

ETH gas fee is not very high like this and first time i saw the news that the only 0.55 ETH sending fee is 10,000 ETH. It is a very high news in the crypto market and just some peoples will believe on it.

[guatazoo 7150]

On 6/12/2020 at 8:25 AM, Whited35 said:

Getting surprised? But yes it is true😁 ! Someone just made a $2.6 million mistake on Ethereum. News was published on decrypt which suggests , someone has accidentally paid  all time highest gas fee to move 0.55 ETH to an address provided by Bithumb exchange where 10,668 ETH was paid as a gas fee to miner and fortunately,transaction was mined by SparkPool(One of the largest Ethereum mining pools in this world). SparkPool has just shared a tweet assuring like they are more likely to solve this problem.

I think there were some puzzling factors and user was intended to send over 10000 ETH with 0.55 ETH as a fee but accidentally switched the two fields.

 

 

On Ethereum blockchain, we are free to set transactions fees but really there is no reason to pay more than a few dollars. As there is no rebate or refund on the most of blockchain technology, my serious concern is what features should be added to overcome this type of problem in the future? 

 

News source:-https://decrypt.co/31830/someone-just-made-a-2-6-million-mistake-on-ethereum

Lol that's is really a big loss for him, I don't know how he was accepting this results, but us because we never done such mistakes, we should learn from others mistakes.  

[mzk7736 1592]

He must be a beginner and it was difficult for him to predict the real amount of ethereum coin that he was going to transfer. It's very fortunate that this problem is going to be solved.

[Whited35 15285]

29 minutes ago, guatazoo said:

Lol that's is really a big loss for him, I don't know how he was accepting this results, but us because we never done such mistakes, we should learn from others mistakes.  

Brother, check my previous post  ! Actually case was quite different than we all are believing so far. 

26 minutes ago, mzk7736 said:

He must be a beginner and it was difficult for him to predict the real amount of ethereum coin that he was going to transfer. It's very fortunate that this problem is going to be solved.

Neither he was a newcomer nor  it was a mistake. Hackers attempted to do these all the things. Check my posts mentioned just above. I have already placed an update for it for all of you guys. 

[godislovefll 1880]

On 6/12/2020 at 1:25 AM, Whited35 said:

Getting surprised? But yes it is true😁 ! Someone just made a $2.6 million mistake on Ethereum. News was published on decrypt which suggests , someone has accidentally paid  all time highest gas fee to move 0.55 ETH to an address provided by Bithumb exchange where 10,668 ETH was paid as a gas fee to miner and fortunately,transaction was mined by SparkPool(One of the largest Ethereum mining pools in this world). SparkPool has just shared a tweet assuring like they are more likely to solve this problem.

I think there were some puzzling factors and user was intended to send over 10000 ETH with 0.55 ETH as a fee but accidentally switched the two fields.

 

 

On Ethereum blockchain, we are free to set transactions fees but really there is no reason to pay more than a few dollars. As there is no rebate or refund on the most of blockchain technology, my serious concern is what features should be added to overcome this type of problem in the future? 

 

News source:-https://decrypt.co/31830/someone-just-made-a-2-6-million-mistake-on-ethereum

It is incredible how only one transaction managed to boost ETH, this leads to the conclusion that whales have enough power to control the ETH market to their liking, that is why cryptocurrencies are so volatile, since there are large investors that at some point can be withdrawn.

[Syedbesharat 5423]

This is huge blender where the sender suffer great loss and the amount was not worthy enough for dee. They have to fix the problem and adjust the problem if it technical them correct it as soon as possible because if accidentally we add more then amount we sending it's gonna cause huge problems. The Eth have to set the scale fix and given options take more. Step before applicable. 

[Whited35 15285]

On 12/3/2020 at 11:28 PM, Sumaiya52 said:

I think there are two option either this Translation was  made by this mistake them..if this gets outs it is like to deter people from the use of ether in their translation.. 

Not by mistake, it was the attempts from hackers who had partial access to the exchange account. Anyway, mining pool has already fixed this issue and hacker's attempt to root funds was unsuccessful. Actually we need to careful. 

[Barbarellah 2225]

They are examples that indicate that when we are operating with cryptocurrencies in the first place we must have due knowledge, and secondly we must be very attentive since actions like this can lead you to lose large amounts of money. It is worth mentioning that many have also inadvertently lost their money due to forgetting their secret keys or access passwords to their wallets or exchange platforms, losing the ability to access their funds.

[jappy 1129]

Undoubtedly these whales influence the value of a cryptocurrency too much and here it is not the excess as a transaction can boost a crypto so much this is because many people withdraw or perhaps a person like a lot of money invested.

[Braulio Eurea 720]

Ethereum blockchain fees are outrageous and unprofitable for users, it really is uneconomical the fees charged by ethereum. I think that this blockchain should design another platform that is not so expensive for entrepreneurs, I always listen to small investors who do not make transactions in ethereum because they are very expensive. I think this is the negative of the ethereum platform, many people use other platforms where they pay much lower fees and transactions are faster.

[pablomarwan 3082]

Good question . Well, this problem occurs in which the majority do not realize the matter until they find themselves sending more than the amount they want to pay and also becomes bankrupt. The thing that is a problem here is that some wallets first send a message to your email in order to make sure that you really want to withdraw that amount. This person sent it without hesitation or check. This is his fault, not the service's fault. We have to desist from hurting anything.

[yulitzacalvete 1366]

What a fact, this does give a great teaching, always check all the amounts you want to send regardless of the network or cryptocurrency, this is something incredible, poor man or woman who has gone through this serious error.

[joemcgwa 3227]

On 6/12/2020 at 8:25 AM, Whited35 said:

Getting surprised? But yes it is true😁 ! Someone just made a $2.6 million mistake on Ethereum. News was published on decrypt which suggests , someone has accidentally paid  all time highest gas fee to move 0.55 ETH to an address provided by Bithumb exchange where 10,668 ETH was paid as a gas fee to miner and fortunately,transaction was mined by SparkPool(One of the largest Ethereum mining pools in this world). SparkPool has just shared a tweet assuring like they are more likely to solve this problem.

I think there were some puzzling factors and user was intended to send over 10000 ETH with 0.55 ETH as a fee but accidentally switched the two fields.

 

 

On Ethereum blockchain, we are free to set transactions fees but really there is no reason to pay more than a few dollars. As there is no rebate or refund on the most of blockchain technology, my serious concern is what features should be added to overcome this type of problem in the future? 

 

News source:-https://decrypt.co/31830/someone-just-made-a-2-6-million-mistake-on-ethereum

That's is just like the scamming so how could them allow the transaction of 0.55 ethereum for the fee of 10000 ethereum, so thats they were seeing it is Ok to do that?