Panicked Bitcoiner mistakenly pays over $70K of BTC in fees

Quick Summary:

The wallet could allow setting a fee in satoshis, which could lead to a scenario where the fee is set way too low, a warning about the low fee and an overcorrection:“System reads it as 30 sats total fee, which is way too low, so user types 305000 thinking it means 30.5 sat/vB, and the wallet actually applies 305,000 sats/vB, which is insane.“Related: Bitcoin user pays $3.1M transaction fee for 139 BTC transferReplace-by-fee: a controversial featureRBF is a widely misunderstood and controversial feature of Bitcoin.

Related: How to fix a stuck Bitcoin transaction in 2025: A step-by-step guideA presumed panic-induced errorThe transaction has signs of a panic-induced error, with the user sending a subsequent transaction fast to prevent the original transaction from being included in a block and becoming final.

It was the second attempt at performing an RBF that changed the transaction's target address, sending 0.48 Bitcoin ($37,770) with 0.2 BTC of change ($16,357).

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Article Details

Author / Journalist: Cointelegraph by Adrian Zmudzinski

Category: Crypto

Markets: United StatesMali

Topics: Transaction Original Feature Address Change User Second Sent Transactions Crypto Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-08 @ 12:03:55 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 596 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27723207

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 33 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #11

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