Somebody Paid 17,000 USD in Fees to Make a Transaction of 8.8 LTC

Again a case of extremely high fees is registered in the crypto verse, and this time the protagonist is an unfortunate owner of a Litecoin Wallet who sent about 8.8 LTC (about 778.77 USD) and paid 200 LTC in mining fees (about 17k USD).

The transaction happened yesterday and was settled for history in block 1636831 which was mined at 8:59.

200 LTC were paid in fees to process a tx of 8 LTC

The unusual movement caused an increase in the average fee per transaction, which ranged from 5 to 70 cents (amounts not handled since 2017) however, as time went by this average slowly returned to normal.

  • The transaction fee per kB was 83.23080000 LTC / $7,297.68
  • The fee per kWU was 20.80770000 LTC / $1,824.42
  • The fee per kVB was 83.23080000 LTC / $7,297.68

Apparently, the wallet appears to be from a solid business as it handles constant transactions that are worth strong sums of money. The transaction could be a consolidation of funds as they all returned to the same address of origin.

Errors in Fees: It’s Not the First… Won’t be the Last

The error seems to be human and not caused by a bot (or some conspirative theory as in other cases) however the person responsible has not yet wanted to come to light.

This is not the first time something like this happens, recently, Ethereum World News reported that an anonymous user paid almost half a million dollars in fees to send just a few bucks on the Ethereum blockchain.

At that time the debate started in the community since it was not a one but several transactions that were carried out in a row. The users discussed several options ranging from a human error, programming errors of trading bots, a case of money laundering or even a very good-hearted hodler.

The block was mined by Chinese pool LTC.TOP although miners are not required to fix these mistakes, in the past, pools have returned funds to their rightful owners.

Until now the unfortunate trader has not contacted the mining pool so it is difficult to know if he is even interested in having them returned.

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