Bitcoin User Accidentally Pays $3.1 Million Commission Fee for a Single Transaction - Latest cryptocurrency news

Bitcoin User Accidentally Pays $3.1 Million Commission Fee for a Single Transaction

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.

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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.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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