Tuesday , November 24 2020
Home / Ethereum / Ethereum User Pays $9,500 Fees For Sending $120: Error ‘Destroyed My Life’

Ethereum User Pays $9,500 Fees For Sending $120: Error ‘Destroyed My Life’

KEY POINTS

  • A person unintentionally typed the incorrect transaction payment whereas making an attempt to switch $120
  • The person is making an attempt to contact the miners who confirmed the transaction
  • It was the identical mining pool that processed a payment of $2.6 million for one more transaction in June

An individual mistakenly paid a transaction payment of $9,500 for a easy switch price simply $120 on the Ethereum community. The Ethereum person is now making an attempt to contact the miners that processed the transaction.

“So I paid 200,000 Gwei for this transaction and destroyed my life,” a Reddit person, who goes by the identify of “Proudbitcoiner”, mentioned in a latest submit. This was equal to 23.5 ETH, price $9,500.

The person mentioned they unintentionally typed the incorrect transaction payment whereas making an attempt to switch $120.

MetaMask, the Ethereum pockets used to course of the transaction, didn’t routinely put an accurate “gasoline” or transaction payment restrict, which resulted within the transaction failure. Proudbitcoiner then determined to alter the payment manually. However as a substitute of coming into the specified payment on the “Fuel Restrict”, the person entered the quantity on the “Fuel Value” enter subject. 

Any transaction within the Ethereum blockchain can solely be confirmed if a transaction payment, known as gasoline (measured in “Gwei”) is paid. Whereas Metamask routinely places a median gasoline payment, customers can select to enter their very own gasoline payment, however this needs to be entered on the “Fuel Price Restrict” and never on the “Fuel Value”.

Ethereum 1.zero is a proof-of-work blockchain, which means the miners verify the transaction. For this specific transaction, it was the mining pool Ethermine that confirmed it. Coincidentally, it was additionally the identical mining pool that processed a transaction payment of $2.6 million for sending 350 ether in June, Information.Bitcoin.com reported. 

Proudbitcoiner tried to message Ethermine and its CEO Peter Pratscher by social media however obtained no reply. However Ethermine is unlikely to return the cash, Information.Bitcoin.com reported. In June, after confirming the $2.6 million transaction payment, the community distributed the block reward to all of the miners inside their pool. On the time, Bitfly, the mother or father firm of Ethermine, tweeted that it’s going to not refund any such errors sooner or later.

Cryptocurrency Photograph: Getty

About Tom Greenly

Check Also

Ethereum Races Clock to Collect Enough Coins for Huge Upgrade

Ethereum, the most-actively used blockchain on the planet, is operating quick on time to persuade …

Parabolische prijsstijging is mogelijk voor Ethereum – Newsbit.nl

Analisten verwachten dat de Ethereum prijs enorm kan gaan stijgen nu de munt vandaag een …