Ethereum User Spends $9,500 in Fees Sending Just $120 in an Error to Forget
An Ethereum user mistakenly paid $9,500 in transaction fees to send just $120. The user, identified by their Reddit moniker ‘Proudbitcoiner’, says the transaction “destroyed my life” and is now desperately asking miners to return the money. According to a Nov. 4 post on Reddit, Proudbitcoiner said they accidentally typed in the wrong transaction fee, leading to a transfer of amounts nearly 80 times the size intended. In total, the user, who was swapping tokens on Uniswap via the ethereum wallet Metamask, paid 23.5 ether (ETH), worth roughly $10,300 at the time of....
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Ethereum transaction fees are at their highest levels but even the proposed solution wouldn’t have helped this fat-fingered user. Ethereum fees are at record level but even so, one Uniswap user paid well over the going rate with a gas fee of $36,000 for a single transaction.Crypto twitter has been flooded with complaints about the unsustainable fees for using the Ethereum network but the rates only exacerbated one DeFi user’s fat fingered mistake. The exorbitant transaction was tweeted by co-founder and CTO of Groundhog Network, Andrew Redden, who confirmed it was Uniswap....
An unknown person incurred a transaction fee of more than $80,000 or (3.49079570 bitcoins) when transferring bitcoin worth $1.16. According to Blockchain.com, the December 19 transaction, which is included in block 662052, had an input of 3.49084570 bitcoin and an output of 0.00005000 bitcoin. As one report explains, the unusually high fee may have been the result of an “error made by the bitcoin user when manually constructing the transaction details.” However, as Alex Lebed the head of development at Xsigma Defi tells news.Bitcoin.com, this may have happened “because....
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Earlier this week, Apple's new mobile NFC payment network, ApplePay, went live. From its first few days of life, huge issues are already popping up regarding ApplePay's security. Multiple users are reporting that using ApplePay has resulted in duplicate charges to their bank statement. CNN Money's Samuel Burke found out about the double spends after forgoing a card swipe and using ApplePay at several merchants: I logged into my debit card account and found that I was charged twice for every purchase I made with ApplePay. A quick search on Twitter found other people with the same problem.....
Coinbase has announced it will charge users a fee to send both Bitcoin and Ethereum due to what it calls “significant costs.” In an update about its “spring cleaning” Wednesday, the exchange and wallet provider said it would no longer pay Bitcoin and Ethereum network miner fees from March 21. The post states: “We now have over six mln users worldwide, and this has become a significant cost. Fees will be assigned dynamically based on the current network conditions and will be paid by customers when they send an on-chain transaction.” Coinbase is not the only business changing its practices....