Oops! A Bitcoin user accidentally paid a whopping 83.7 BTC ($3.1 million) in transaction fees for transferring 139.42 BTC 🤯 The eighth-highest fee in Bitcoin's history left the destination address with only 55.77 BTC. Antpool mining pool captured the absurd fee on block 818087.
Why did this happen? 🤔 The replace-by-fee (RBF) node policy and the sender's unawareness played a part. The user probably didn't know RBF orders can't be canceled and may have replaced the fees multiple times, hoping to cancel it. The last replacement added another 20% in fees!
This isn't the first time a user accidentally sent a high transaction fee. In September, Paxos sent a $500,000 fee for a $2,000 BTC transfer. However, this recent blunder is the largest Bitcoin transaction fee ever paid in dollar terms. Will Antpool return the funds? We'll have to wait and see! 😅