Bitfinex paid a colossal $23M fee to send $100K of USDT
In what is presumed as a technical error, popular crypto exchange Bitfinex paid a seismic $23.7 million dollars in a gas fee for a comparatively nominal $100K transaction. Crypto exchange Bitfinex completed a highly consequential transaction on Sept. 27 when sending $100,000 of the stablecoin Tether (USDT) to the layer-2 subsidiary platform DeversiFi. For reasons unknown, the exchange paid 7,676 ETH, equivalent to $23.7 million, marking quite possibly the largest gas fee ever recorded on the Ethereum blockchain. According to blockchain data from EtherScan, the deposit transaction was....
Related News
Customers can now borrow money from crypto exchange Bitfinex. Amid a year of significant growth for the decentralized finance space within the crypto industry, British Virgin Islands-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow. "Bitfinex Borrow is a borrowing platform," Bitfinex chief technology officer Paolo Ardoino told Cointelegraph. “This particular offering isn’t about lending out your crypto and obtaining a rate of return on it," he said. “The crypto loan is obtained via Bitfinex’s peer-to-peer lending platform, though it may....
The CTO at Bitfinex Paolo Ardoino has pushed back against rumours that the company’s Tether stablecoin may be the next target of the U.S. Securities and Exchange Commission (SEC). The Bitfinex executive insists that the Tether stablecoin, whose market capitalization has now surpassed $20 billion, is a properly registered and regulated crypto. The Alleged Misinformation Campaign The CTO said while responding to rumours circulating on social media that the USDT stablecoin might fall into a predicament similar to that of Ripple’s XRP token. Immediately after the SEC filed to sue....
The NYAG found that Tether and Bitfinex misrepresented the assets backing USDT and obscured the loss of $850 million in user funds. The post Bitfinex, Tether Found To Misrepresent USDT Backing And Obscure User Fund Losses appeared first on Bitcoin Magazine.
The NYAG found that Tether and Bitfinex misrepresented the assets backing USDT and obscured the loss of $850 million in user funds.
Bitfinex has alerted of phishing emails being circulated from an address that is made to appear to be one of its email addresses. The distressed company notes in a blog post on its website that the email is not from any @bitfinex.com address but from @ibitfinex.com, stressing the additional i. Bitfinex states: We like to stress this is not a message sent out by Bitfinex and we advise anyone that has received this email or any similar email to delete it immediately. Do not open the attachments and if you have opened the attachments do a full virus scan of your computer. It added that any....