Bitfinex was charged a staggering $23M to send $100K USDT.

Popular crypto exchange Bitfinex has paid a seismic $23.7million dollars in gas fees for a $100K transaction. This is believed to be a technical error. Today, crypto exchange Bitfinex sent $100,000 of stablecoin Tether to DeversiFi’s layer-2 subsidiary platform. The exchange paid 7,676 ETH (equivalent to $23.7 million), marking possibly the highest gas fee ever recorded on the Ethereum blockchain. According to EtherScan blockchain data, the deposit transaction was initiated at 11.10 UTC today from Bitfinex’s second largest address to the wallet DeversiFi. DeversiFi promoted a service to “avoid gasoline costs and frustration, and save you time and money with each trade or swap.” However, the transaction was charged an “erroneously large gas fee”, although DeversiFi claims that it was initiated at 11:10 UTC this morning. This is in addition to the fact that $2 billion worth of BTC was transferred to unknown wallets two weeks ago for an inexplicable fee of $0.78. DeversiFi also stated that the average transaction fee on the Ethereum blockchain is 0.013 ETH, or $39.96. DeversiFi also confirmed this in a recent statement. We look forward to DeversiFi investigating the matter and having it sorted out on their end.– Bitfinex (@bitfinex) September 27, 2021 In June 2020, another gas fee mystery occurred with numerical similarities to the Bitfinex case when three small to medium transactions registered seismic costs, with one 0.55 ETH transfer carrying $2.6 million in fees.Related: Bitfinex launches the first L2 bridge from CeFi to DeFiAt the time, Ethereum co-founder Vitalik Buterin expressed his agreement with the human-error narrative, adding that: “I’m expecting EIP-1559 to greatly reduce the rate of things like this happening by reducing the need for users to try to set fees manually.”However, experts in the field circulated theories of blackmail, fraudulent activity and even money laundering after the last of the three transactions was confirmed as “malicious attack” when the wallet owner reached out to the mining pool that facilitated the transaction. In this case, the owner received 90% of the funds lost.

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