Ethereum

<ul><li>An anonymous user accidentally loses nearly $90,000 ether as gas fees while transferring $2,200 worth of ETH.</li><li>Despite stringent rules and regulations, crypto users face loss in ‘fat-finger’ transactions.</li><li>An Australian couple face jail time for mishandling a crypto exchange&#39;s fund transfer of over $10 million.</li></ul>In a shocking incident that rocked the crypto world, an anonymous user accidentally spent a whopping amount of nearly $90,000 as a fee, on the <a href="https://cryptotale.org/vcs-focus-on-bitcoin-ethereum-sideline-risky-crypto-bets/" rel="noopener noreferrer nofollow">Ethereum blockchain (ETH)</a>, to transfer a meager amount of about $2,200 worth of ETH. This incident is an eye-opener to many, shedding light on the risks involved in the decentralized world, wherein even minor errors can have a major impact.Mistake in Ether Blockchain Fund Transfer Lands Crypto User in $90K LossOn August 11, 2023, a user named DeFiac posted data on his X profile, highlighting how a user lost his funds, in a transaction, without verifying the facts. The user had relatively spent over 34.26 ETH (worth $89,200) as gas fees to transfer 0.87 ETH ($2,262). Instead of setting a regular transaction fee, the user had mistakenly set a higher fee, which resulted in the mishandling of <a href="https://twitter.com/TheDEFIac/status/1822757900349026478" rel="noopener noreferrer nofollow">funds.</a>Related:<a href="https://cryptotale.org/ethereums-demand-zone-retest-signals-bullish-breakout-ahead/" rel="noopener noreferrer nofollow">https://cryptotale.org/ethereums-demand-zone-retest-signals-bullish-breakout-ahead/</a>Fat-Finger TransactionsSuch incidents, although rare, are not unprecedented in the crypto economy. They are nicknamed as ‘fat-finger’ transactions. They mostly arise due to errors either on the user side or network issues. As the crypto market grows, rules and regulations are consistently updated, however, such unforeseen circumstances do arise. To avoid such incidents in the future, the user should confirm all facts before plunging into action.<a href="https://cryptotale.org/crypto-user-pays-90k-fee-for-a-2k-ethereum-transfer/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Crypto User Pays $90K Fee for A $2K Ethereum Transfer

CryptoTale

Other articles published on Aug 13, 2024

VALR CMO Ben Caselin Highlights Unique Crypto Adoption Patterns in Emerging Markets (13 Aug)

Binance Announces New Crypto Delistings: Details

Bit-Chess Announced Its Presale for Decentralized Chess to Take the Center Stage

$Radx (Radx AI) Hidden Gem Join the Movement

Venezuela Blocks Access to Binance and Social Media Platform X Amid Political Tensions

SKALE Introduces Swell: A New Platform to Onboard Web3 Users

Join our free newsletter for daily crypto updates!