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Home Crypto News Market Ethereum User Paid $430,000 Transaction Fees In An Unsuccessful Attempt To Buy...

Ethereum User Paid $430,000 Transaction Fees In An Unsuccessful Attempt To Buy STRP Tokens

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An Ethereum user attempting to participate in the Strips token sale on the MISO platform which is SushiSwap’s newly launched token sale platform paid a fee of $ 430,000 for a failed transaction.



According to The Block, because of the high competition, STRP tokens on the MISO platform were sold out in just a few seconds.

During the sale, the member tried to use Flashbots to gain priority. Flashbots allow you to send a transaction directly to a miner for prompt inclusion in a block. Flashbots transactions remain confidential until they are included in a block.

However, in this case, something went wrong, and the transaction ended up in a public mempool.  Since STRP tokens were sold out too quickly, the transaction was unsuccessful, and the potential buyer was left without tokens.

However, he still paid the transaction fee, which was 123 ETH (about $430,000).

 

Flashbots product development manager Robert Miller tweeted:

 

A few weeks ago, Bitfinex paid a fee of $23.7 million for a transaction in USDT stable coins worth $ 100,000. Fortunately, the miner who processed the transaction returned $22.1 million.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

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