Ethereum User Makes Costly Mistake, Loses $90,000

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

In the crypto world, so-called “fat finger” transactions are relatively common. In 2023, an NFT trader paid 1,055 ETH (worth $1.6 million at the time) for an NFT that was only valued at $1,000. Similarly, an OpenSea collector once spent 100 ETH ($191,000 at the time) on a free NFT mint.

Private individuals aren’t the only ones who make costly transfer mistakes. In 2021, the Singapore-based cryptocurrency exchange Crypto.com accidentally sent $7 million to an Australian user named Thevamanogari Manivel.

Bitfinex made a similar error in 2021, transferring $100,000 in Tether (USDT) to a wallet and then to the DeversiFi exchange’s wallet. For this transfer, Bitfinex ended up paying an astounding $23.7 million in fees— an incredibly expensive mistake.

Experts have warned that while such overpayments can happen accidentally, they could also be a method for money laundering.