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A Bitcoin user pays $3.1 million in fees to transfer 139 BTC

a user mercenary 83.7 Bitcoins (Bitcoin), approximately $3.1 million in transaction fees for transferring 139.42 BTC. The $3.1 million fee is the eighth-highest in Bitcoin’s 14-year history.

on November 23 address From BTC wallet bc1qn3d…wekrnl tried to transfer 139.42 BTC to bc1qyf…km36t4 but had to pay more than half the actual value in transaction fees. The destination address received only 55.77 BTC. Mining pool Antpool charged incredibly high mining fees on block 818087.

Antpool mining rewards history. Source: Mempool

Users on social media speculated that the sender may have chosen a high transaction fee, but the fee swap (RBF) node rule and ignorance appear to have played a role as well. RBF allows you to replace an unconfirmed operation in the memory pool with another operation that requires a higher fee to be confirmed sooner. The memory pool is where all BTC transactions are queued before they are confirmed and added to the Bitcoin blockchain.

Second Since he was a mempool developer using Mononaut at X (formerly Twitter), the transferr probably didn’t know that RBF orders couldn’t be canceled. The user may have changed the fees multiple times in hopes of canceling. RBF history shows that the latest change increased the fee by another 20%, adding 12,54824636 BTC.

RBF’s 83.7 BTC transaction fee history. Source: Mempool

This isn’t the first time a Bitcoin user has accidentally sent an excessively high fee for a single transaction. In September, Bitcoin exchange Paxos accidentally paid $500,000 in fees Transferring $2,000 in BTC. In this case, the miner F2Pool, which verified the transaction, mistakenly refunded the spent amount to Paxos.

However, this was the largest Bitcoin transaction fee ever paid in dollars, knocking the $500,000 Paxos transfer off the podium. In terms of Bitcoin, the largest commission was paid in 2016 when someone made an accidental payment. envoy 291 BTC as fee.

Mononaut told Cointelegraph that this case has similarities to Paxos, but whether Antpool returns the funds will depend on its payment policies. “This may have implications regarding your obligation to share transaction fees with your miners.”

Antpool has not commented on the matter and has not yet responded to Cointelegraph’s questions.

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