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Mystery ETH Wallet Spends $2.6 Million In Transaction Fees Twice In 24 Hours

An unknown wallet has paid over $5 million in network fees, for less than $500 worth of ETH.

Tolu Ajiboye by Tolu Ajiboye
June 11, 2020
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Yesterday, an unknown Ethereum (ETH) became the talk of the cryptosphere, after what can only be described as a bizarre transaction. Today, a new and equally bizarre transaction has made the rounds after the same wallet paid over $2 million in transaction fees.

Yesterday, the unknown wallets sent $133 in ETH but paid transaction fees worth $2.6 million for the small figure. The transaction was much talked about as most people concluded that it could only have been a mistake, even though it seemed weird.

Today, the same wallet sent 350 ETH, about $86,464, but paid a whopping 10,668.73185 ETH ($2,635,603.52), in transaction fees. This transaction happened nearly 17 hours after the first transaction. Now many are wondering if the transactions are deliberate after all.

The first transaction was a payment to Spark Pool, a mining group based in China. When the transaction was revealed, the mining group announced for the person who paid the ETH to identify him or herself, just in case the transaction was an error.

The second transaction was received by another mining pool, Ethermine. An official tweet also called for the sender to contact the mining pool because they “believe that this was an accident.”

When the first one happened, many considered the possibility that it was some sort of money laundering scheme. This second transaction is now causing more people to believe that theory.

Image Credits: Pixabay

Tags: ChinaethethermineNetwork feesSpark Pool
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