Ethereum User Pays $2.6 Mln for One Transaction. Here's What Happened

Transaction of 0.55 ETH was sent with transaction fee $2.6mln. Mining pool SparkPool is waiting for a message from sender to return the money.

Image source: unsplash.com

A transaction of 0.55 ETH with a transaction fee of $2.6 million was discovered in the blockchain Ethereum. Some "whale" did this, perhaps by mistake.

Image source: etherscan.io

The average transaction fee for Ethereum was just $0.57. This amount is not comparable to what the sender paid.

This transaction was processed by the Chinese mining pool SparkPool. They tweeted that they were waiting for a response from the sender. The transaction fee may be refunded.

Image source: Twitter @sparkpool_eth

Similar incidents have already occurred. Previously, someone tried to send a small number of Synthetix tokens (SNX) for a transaction fee of $160,000. This transaction was also on the Ethereum blockchain.

Ethereum Creator Vitalik Buterin commented on the transaction. He called it a mistake. The sender may have confused the field for entering the transaction amount and the transaction fee it.

Vitalik said that the Ethereum EIP 1559 update will eliminate the possibility of such errors and introduce automatic substitution of the price for the fee.

Image source: Twitter @VitalikButerin

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Alex Dudov E-mail

Alex has been creating articles for several crypto projects for three years. He is interested in cryptocurrencies and financial markets, more so in cryptocurrencies.