- The ‘hard to swallow’ amount of 19.82 BTC in transaction fee has become a buzz in crypto community.
The transaction that paid nearly 20 BTC ($500,000) fee a few hours ago looks like an exchange or payment processor with buggy software.
They’ve received 60,000+ txns and sent 60,000+ txns from the same address (bad practice) and likely calculated their change output incorrectly. pic.twitter.com/ae9RzD1CXH
— DollarPesa (@dollarpesa) September 18, 2023
Luckily, the transaction is confirmed and broadcasted by the F2Pool, a well-known Bitcoin miner pool. The administrator of F2Pool, Chun Wang, announced that they have put the amount on hold. It will be distributed to miners if nobody claims it for three days.
The average fee on Bitcoin transactions stays around $1 or $2, while it reaches as high as $60 in higher network activities.