Whale mistakenly pays record $500k fee to move $1.9k BTC
An unlucky Bitcoin (BTC) user recently paid over $500,000 in transaction fees to move just 0.074 BTC to Binance — a historical network fee on the BTC blockchain. Prominent whale tracking resource Whale Alert first called attention to the development in a recent disclosure on X (formerly Twitter), eliciting varied reactions from the broader crypto community. A fee of 19 #BTC (509,563 USD) has just been paid for a single transaction!https://t.co/sI0FSMnsiW — Whale Alert (@whale_alert) September 10, 2023 The transaction occurred on Sept. 10 at 5:04 AM (UTC). Data from Blockchair indicates that the user transferred a meager 0.074 BTC tokens, currently valued at $1,911, with some of the assets sent to Binance. However, fees for the transaction stood at a whopping 19.82 BTC, worth around $511,512 against prevailing rates. Interestingly, Bitcoin’s average transaction fee currently sits at 0.000084 BTC, valued at $2, according to recent data from IntoTheBlock. You migh...