- The transaction fee per kB was 83.2 LTC (~$7,297).
- The fee per kWU was 20.8 LTC (~$1,824).
- The fee per kVB was 83.23 LTC (~$7,297).
Whale of a MistakeThe intention behind the transaction was likely to consolidate funds. The sender’s address first appeared on April 5, 2018, and has a total of 2,573 transactions made. In total, $211M worth of LTC has moved through it — with a final balance currently of 323 LTC (around $28,747). Because the address commonly moves funds around, it is potentially owned by a business. It is unclear whether the crazy-high transaction fee was due to human error or a bot, but the miners are inevitably very happy about it. A Chinese based mining pool called LTC.TOP received the fee. If it is feeling particularly kind, the mining pool could feasibly return the fee.
Check Your Litecoin FeesThe lesson here is this: if you are setting your own transaction fees manually, check your digits. Make sure the decimal is in the right place. It might even be smart for all LTC wallets to include reasonable limits on custom-set transaction fees — so that nobody can make this kind of mistake again. Have you ever mistakenly sent a Litecoin (LTC) transaction with fees too high? Let us know your thoughts on this story below in the comments.
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