Interesting developments continue to occur in the cryptocurrency market. Accordingly, a Bitcoin user set a new record by accidentally paying a commission fee of over $3.1 million for a single Bitcoin transaction in US dollars on November 23rd. This development resulted in a commission fee that is more than six times higher than the previous record of $500,000 paid in September. It remains a question how the investor will recover the funds.
Transfer Fee Worth $3.1 Million
The Bitcoin user mentioned in the news article accidentally paid a commission fee of 83.65 Bitcoins worth $3.1 million instead of transferring 55.77 Bitcoins worth $2.1 million at the time of writing. The transaction took place on November 23rd at 9:59 am. According to Bitcoin researcher Mempool’s data, the wallet balance before the transaction was 139.42 Bitcoins worth $5.2 million, and the user paid 120,528 times more than the average commission fees in the Bitcoin ecosystem at the time of the transaction.
It is noteworthy that the address used for the payment was activated in the early hours of today, and the user had made three Bitcoin transactions before without paying a record commission fee. Another interesting detail is that the recipient’s Bitcoin address was also activated on October 16th.
What Happened in September?
According to the blockchain analysis platform Blockchair, the transaction in question was mined in block number 818,087 by AntPool. AntPool has not yet publicly shared any developments about the transaction and continues to leave questions about the process unanswered for now.
The previous record for a commission fee paid in the Bitcoin ecosystem was $500,000 in September. During the process, the crypto service provider Paxos referred to this transaction as a “fat finger” mistake. The mining company F2Pool, which mined the block for the transaction in September, decided to reimburse the commission fee to Paxos.
The asset and user identity behind the $3.1 million commission fee, which was paid on November 23rd, are still unknown. It is also a question whether AntPool will be willing to reach a similar agreement.
