Interesting developments continue to occur in the cryptocurrency market. Recently, a Bitcoin user accidentally paid a record-breaking commission fee of $3.1 million for a single Bitcoin transaction on November 23. This amount exceeds the previous record of $500,000 paid in September by more than six times. It remains a mystery how the investor will be able to recover these funds.
As mentioned in the article, the Bitcoin user mistakenly paid a commission fee of $3.1 million for 83.65 Bitcoins instead of $2.1 million for 55.77 Bitcoins. The transaction took place on November 23 at 9:59 am. According to the data from Bitcoin researcher Mempool, prior to the transaction, the wallet balance was 139.42 Bitcoins worth $5.2 million. The user ended up paying a fee that was 120,528 times higher than the average commission fees in the Bitcoin ecosystem.
It is noteworthy that the payment address was activated earlier today, and the user had previously made three Bitcoin transactions without paying any record-breaking commission fees. Additionally, the recipient’s Bitcoin address was activated on October 16.
The fate of the previous record commission fee of $500,000 paid in September in the Bitcoin ecosystem remains unknown. During that time, crypto service provider Paxos referred to the transaction as a “fat finger error.” The mining company F2Pool, which mined the block for that transaction, decided to refund the commission fee to Paxos.
The identity of the individual behind the $3.1 million commission fee paid on November 23 and their assets are still unknown. It is also uncertain whether AntPool will reach a similar agreement or not.