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[BrolySSJ]

Hi all,

So i am not sure if you guys have heard about this, but on the 10th of June there was a user that was trying to transfer just 130 dollars of ethereum, and ended up paying 10,000 ethereum as the transaction fee. This is over 2.6 million dollars in just the transaction fees alone!

The explanation for such a high fee is that it could be a mistake or it could be money laundering and so i think that further investigation will be done into this transaction. However, as this is a crypto transaction and due to the whole decentralized nature, as we all know there is no way to reverse the transaction.

Have you guys heard about this and what are your thoughts on this?

 

[Reznov]

i believe something illegal is there, nobody would send all of that money for a payment (i believe that no cars company accept cryptocurrency uh)

 

[BrolySSJ]

i believe something illegal is there, nobody would send all of that money for a payment (i believe that no cars company accept cryptocurrency uh)

I think you could be right there. Because generally a person would check the transaction fee before making the transaction in the first place. I knwo that is what i do and i am sure that many others do that too.

with regards to car purchases there are some that do offer such. I will make a thread on this and refer you to the article as well. Keep an eye out for it please. :)

 

[Reznov]

I think you could be right there. Because generally a person would check the transaction fee before making the transaction in the first place. I knwo that is what i do and i am sure that many others do that too.

with regards to car purchases there are some that do offer such. I will make a thread on this and refer you to the article as well. Keep an eye out for it please. :)

thank you :)
besides the fees, a huge transaction like this can't be a payment that some user used to purchase something, it's more like money laundering to avoid taxes

 

[Balint098]

A system glitch maybe? If this is an attempt to launder money the sender should know better and use mixer to cover his digital footprints, but then again, not all criminals are smart so...

 

[BrolySSJ]

A system glitch maybe? If this is an attempt to launder money the sender should know better and use mixer to cover his digital footprints, but then again, not all criminals are smart so...

This is very true. sometimes if it was an attempt at a criminal act they don't think their plan all the way through to the end and the repercussions, so it could be money laundering gone wrong. Hopefully they figure out what happened and hold the correct people accountable.

If this was a system glitch though that is one hectic glitch to pick up such a high transaction fee.

 

[Balint098]

If this was a system glitch though that is one hectic glitch to pick up such a high transaction fee.

It's not that uncommon as one's may think, I know of one recent example, I will make a thread bout it later. Still, if this is actually a glitch then the programmers should fix it quick.

 

[BrolySSJ]

It's not that uncommon as one's may think, I know of one recent example, I will make a thread bout it later. Still, if this is actually a glitch then the programmers should fix it quick.

In such cases like this, assuming that it is a glitch, will the developers and programmers be able to refund the person for the transaction fees based on that glitch? Or is it like any other crypto transaction and once its gone there is no way to reverse or get it back.

 

[Balint098]

In such cases like this, assuming that it is a glitch, will the developers and programmers be able to refund the person for the transaction fees based on that glitch? Or is it like any other crypto transaction and once its gone there is no way to reverse or get it back.

Depends on how the system works, if the transaction is automatic there's high chance that the money already sent, but if the process is manual the funs might be still on hold. Still, no matter what happens, the companys should refund the user from their own pocket.

 

[BrolySSJ]

Depends on how the system works, if the transaction is automatic there's high chance that the money already sent, but if the process is manual the funs might be still on hold. Still, no matter what happens, the companys should refund the user from their own pocket.

Yeah i agree with you there. A refund should be made in the case of a glitch, however i think that it also falls on the user and the person that is making the transaction to check the transaction fee before they send through the amount as well.

 

[Josemendez]

I believe that before a transaction is sent , the sender will see the money he or she is sending , the network fee and the total cost , so if actually this sender saw this and still went ahead to send this Money , then there is more to it .

 

[Vladv26]

I'm pretty sure this is not a mistake and something strange is going on here. You can't put 10.000 eth as fee by mistake because that's a big number and you would notice it when you make the transaction

 

[KarthikP]

I think the person who lost so many dollars need to report and show proofs that it was not his mistake , it can be the bug of his wallet or something. This case still remains unsolved i guess.

 

[Brain]

Oh wow it really incredible, the transaction fees cost so high than the actual transaction money. This sound fraudulent like it more of money laundry

 

[Josemendez]

I think the person who lost so many dollars need to report and show proofs that it was not his mistake , it can be the bug of his wallet or something. This case still remains unsolved i guess.

Yeah. There should be need for him to sent a support ticket that will be used to access the situation and probably return back the money to him if the issue is solved

 

[Wisdom01]

I think is either he made mistake in editing the fee or its something illegal because the eth gas fee cant just rise to that extent for only $100 transaction

 

[Brain]

More money will still be spent to buy eth because eth is really promising now.As the price is still increasing it is a kind of plog to lure others to invest in it too.

 

[Wisdom01]

More money will still be spent to buy eth because eth is really promising now.As the price is still increasing it is a kind of plog to lure others to invest in it too.

Yeah i think the price is currently at $1300 and this is really showing a good sign that more people are investing in the coin and you can sell now for profit

 

[Brain]

Yeah i think the price is currently at $1300 and this is really showing a good sign that more people are investing in the coin and you can sell now for profit

It as climb to $1350 plus today like it is galloping to 1500k in few months, so as you have stated investing in it now will definitely yield more in the future

 

[Niftyicon]

If the very high transaction thing really happened, then there must have been an error somewhere because I doubt that any sane person would have checked and wouldn't continue with such transaction.