Bitcoin user pays $3.1M transaction fee for 139 BTC transfer

A Bitcoin user paid 83.7 Bitcoin (BTC), worth $3.1 million, in transaction fees for moving 139.42 BTC. The deal fee of $3.1 million is the eight-highest in Bitcoins 14-year history.The BTC wallet address bc1qn3d … wekrnl attempted transferring 139.42 BTC to bc1qyf … km36t4 on Nov. 23, only to pay majority the actual worth in the deal fee. The location address received just 55.77 BTC. The mining swimming pool Antpool captured the absurdly high mining fee on block 818087. Antpool mining reward history. Source: MempoolUsers on social media recommended that the sender may have picked the high transaction charge, but the replace-by-fee (RBF) node policy and the senders unawareness also appear to have played a part. RBF allows an unconfirmed transaction in the mempool to be replaced with a various deal that pays a greater deal fee to get it cleared earlier. The mempool is where all BTC deals are queued before approval and addition to the Bitcoin blockchain.A mempool developer who passes mononaut on X (previously Twitter) said the user behind the transfer probably didnt know RBF orders can not be canceled. The user might have repeatedly replaced the costs in hopes of canceling it. The RBF history indicates that the last replacement increased the cost by another 20%, adding 12.54824636 BTC in fees.RBF history of the 83.7 BTC deal cost. Source: MempoolThis is not the first time a Bitcoin user mistakenly sent a ridiculously high deal charge for a single Bitcoin deal. In September, Bitcoin exchange platform Paxos accidentally sent a $500,000 deal charge for a $2,000 BTC transfer. In that event, the F2Pool miner who confirmed the transaction returned the $500,000 unexpected deal cost to Paxos.However, this is the largest Bitcoin deal cost ever paid in dollar terms, knocking the September Paxos transfer of $500,000 off its unfortunate podium. The largest fee in Bitcoin terms was paid in 2016 when somebody unintentionally sent 291 BTC in deal fees.Related: Binances DOJ settlement offers a twinkle of hope for the crypto industryMononaut told Cointelegraph that although the present circumstances of an unintentional deal cost has similarities to the Paxos case, the possibility that Antpool would return the funds would depend on their own payout policies, “which might have implications for what obligations they have to share deal fees with their miners.”Antpool has yet to discuss the issue and has yet to react to Cointelegraphs requests for comments.Magazine: Deposit danger: What do crypto exchanges actually do with your money?