Yesterday, TheCryptoBasic reported that Crypto exchange Bitfinex paid $23.7 million in transaction fees to send $100,000 of tether (USDT) in what was presumably a bit of a slip up.
Read Details: Bitfinex Spent $23.7 Million In Fees To Transfer 100,000 USDT In A Single Ethereum Transaction
The transaction was sent from one of Bitfinex’s main wallets and the money ended up at one of Deversifi’s wallets — a non-custodial exchange that was spun out of Bitfinex in 2019.
Deversifi announced on twitter:
At 11:10 UTC on the 27th September a deposit transaction was made using a hardware wallet from the main DeversiFi user interface with an erroneously high gas fee.https://t.co/OpSHkkFiBo
— DeversiFi ? (@deversifi) September 27, 2021
But DeversiFi put their users at ease as they confirmed that miner was returning the 7626 ETH.
The blockchain is immutable.
But the revolution we are part of is defined by our values as humans.⁰⁰
Thank you to the miner of block 13307440 who we can confirm is returning 7626 ETH that were incorrectly paid today as a tx fee.
A post mortem will follow tomorrow. https://t.co/FqkEZ9DK8P
— DeversiFi ? (@deversifi) September 27, 2021
The transaction was a smart contract interaction with the amount of tether sent to one wallet before being passed along to Deversifi’s wallet. It used the newly implemented EIP-1559 type of transaction, which was designed to make Ethereum fees easier to predict.
The transaction was included in a block that was mined by an unknown Ethereum miner, who ranks in the top ten miners by blocks mined over the last seven days.
While the miner returned the fee on this occasion as a gesture of good will, it would have been difficult, if not impossible, for DeversiFi to enforce the return of the 7626 ETH.
Diversifi also published a 23.7 million dollar Ethereum transaction post mortem:
A 23.7 million dollar Ethereum transaction post mortem: https://t.co/e1PUZJC21L
Read our post mortem on yesterday's largest ever #Ethereum transaction fee, what we did to fix it and what we’re doing to ensure the security of our users longer-term.
— DeversiFi ? (@deversifi) September 28, 2021
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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