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November 27, 2022
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The most expensive transaction on Ethereum cost $23.5 million

The transaction was made at what is possibly the highest transaction fee ever paid in cryptocurrency.

Today, someone paid $23.5 million (ETH 7,676.61) in transaction fees for a transfer of about $100,000 in tether (USDT) over the Ethereum network (ETH), according to Dice of public transactions on Etherscan.

The transfer was made at 11:10 UTC on Monday and appears to have been sent from a wallet controlled by Bitfinex to a wallet owned by DeversiFi , a non-custodial exchange derived from Bitfinex in 2019.

“In transactions like these, fees are supported by third-party integrations with Bitfinex. This was also confirmed by DeversiFi in its recent statement. We look forward to an investigation by DeversiFi and a resolution of the matter by them,” a Bitfinex spokesman told Cryptonews.com.

DeversiFi has confirmed that “a deposit transaction was made using a DeversiFi main user interface hardware wallet with an erroneously high gas rate.” According to the company, they are “investigating the cause to determine how this occurred […]”, adding that no client resources are at risk.

Judging by the transaction data on Etherscan, the USDT transfer was done using the new EIP-1559 standard, which – among other things – is intended to improve the estimation of transaction fees on the network.

The transaction was done at what is possibly the highest transaction fee ever paid on cryptoactives. Other incidents in the past include a $5.3 million transaction fee paid on Ethereum by the small Korean exchange P2P Good Cycle. See the reactions:

Source: CryptoNews

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