A Bitcoin user pays a fee of US$3.1 million to transfer 139 BTC

Bitcoin user Pay 83.7 Bitcoin (BTC) worth $3.1 million in transaction fees for transferring 139.42 BTC. The $3.1 million transaction fee is the eighth highest in Bitcoin’s 14-year history.

the Title From BTC wallet bc1qn3d…wekrnl attempted to transfer 139.42 BTC to bc1qyf…km36t4 earlier on November 23, only to pay more than half the actual value in transaction fees. The destination address received only 55.77 bitcoins. Antpool mining pool has had an absurdly high mining rate in block 818087.

Antpool Mining Bonus History Source: Mempool

Social media users suggested that the sender chose high transaction fees, but the Replacement Fee (RBF) node policy and lack of sender knowledge also appear to have played a role. RBF allows an unconfirmed transaction to be replaced in the memory pool with another transaction that pays a higher transaction fee, in order to settle sooner. Mempool is where all BTC transactions are queued before being approved and added to the Bitcoin blockchain.

A mempool developer who uses Mononaut on Twitter He said The user behind the transfer may not have known that RBF orders cannot be cancelled. The user could have redeemed prices multiple times in the hope of canceling them. RBF history indicates that the latest exchange increased fees by another 20%, adding 12.54824636 BTC in fees.

RBF has a history of transaction fees of 83.7 BTC. Source: Mempool

This is not the first case of a Bitcoin user accidentally sending an absurdly high transaction fee for a single Bitcoin transaction. In September, bitcoin exchange Paxos mistakenly sent $500,000 in transaction fees for transferring $2,000 in bitcoin. However, the f2pool miner who verified this transaction returned the incidental transaction fee of $500,000 to Paxos.

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Munot told Cointelegraph that although the current incidental transfer fee case has similarities to the Paxos case, the possibility of refunds by Antpol will depend on their payment policies, “which may have implications for the liabilities they have.” With the miners.”

Antpool has not yet commented on the matter and did not respond to Cointelegraph’s requests for comment.

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