A User Made a Huge Mistake on the Ethereum Network! This Mistake Cost Him $90,000!

An unidentified cryptocurrency user was found to have accidentally spent $90,000 in gas fees on a $2,200 Ethereum (ETH) transfer.

According to data from Ethereum explorer Etherscan, an anonymous user accidentally paid 34.26 ETH ($89,200) in ETH gas fees while transferring 0.87 ETH worth $2,262.

In the crypto world, so-called “fat finger” transactions are common. In 2023, an NFT trader paid 1,055 ETH (worth $1.6 million at the time) for an NFT that cost just $1,000.

An OpenSea collector also spent 100 ETH ($191,000 at the time) for a free NFT mint.

Retail participants aren’t the only ones making mistakes with transfers. In 2021, Singapore-based crypto exchange Crypto.com also accidentally sent $7 million to Australian user Thevamanogari Manivel.

Apart from these, in 2021, Bitfinex also moved $100,000 worth of Tether to a wallet and from there sent it to the wallet of the DeversiFi exchange, which was separated from it in 2019, and Bitfinex paid a transaction fee of $23.7 million for this transfer.

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Experts have warned that such overcharging could be accidental, but could also be a method of money laundering.

Additionally, the Ethereum network's daily ETH burn rate and gas fees dropped to their lowest levels this year.

Ethereum, which has experienced a 3.5% drop in the last 24 hours, continues to be traded at $2,584 at the time of writing.

*This is not investment advice.