Bitfinex Paid Over $23 Million in ETH Fees to Send $100K Worth of USDT

The cryptocurrency market never ceases to amaze. One of the most popular centralized exchanges – Bitfinex – spent over $23 million worth of fees to send $100K USDT using Ethereum’s network.

• In what seems to be the most expensive transaction made on Ethereum, Bitfinex, the well-known cryptocurrency exchange, paid over $23M worth of ETH.
• Interestingly enough, the transaction itself intended to send $100,000 worth of USDT.
• According to Etherscan, Bitfinex paid a grand total of 7,676.6 ETH, which is currently around $23.6 million.
• The transaction was made through the recently implemented EIP-1559, which also means that 0.053 ETH was burned.
• The USDT was intended to arrive in DeversiFi’s wallet – a decentralized exchange incubated by Bitfinex.
• Commenting on the matter, the team behind the DEX issued an official response through their Twitter page.

At 11:10 UTC on the 27th September a deposit transaction was made using a hardware wallet from the main DeversiFi user interface with an erroneously high gas fee.

DeversiFi is currently inestigatng the cause to determine how this occured and will keep you updated. No customer funds on DefersiFi are at risk and this is an internal issue for DeversiFi to resolve. Operations are unaffected.