I think all ethereum wallet platforms including metamask should create the notification of the gas price the sender about to use.
For example, it will notify the sender when he use too much gas compare the average gas price on the network.
If there is no notification, the same mistake will repeating someday and people will be afraid to use the wallet.
Topic: Ethereum User Spends $9,500 in Fees Sending Just $120 - page 2. (Read 873 times)
I just only guess how much irresponsible he was, that's massive lost indeed. The sender allow to set limits on the maximum amount of gas which one definitely greater than required gas. That's absolutely horror part, they might consider on it, and we have to give it more priority since we're dealing with blockchain.
That was really an expensive error. That's really troublesome for me imagine losing big amount for such error if I'm on his position
I don't think if i could eat or sleep for days.
I don't think if i could eat or sleep for days.
Another fees error has been registered on ethereum blockchain. According to this news from bitcoin.com
https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
It was the sender who made the error, so the miners will really keep it. This is not the first time that this happened, it was happened also before where over a thousand dollars were spent only for a small amount of money, unfortunately, they were not able to return it back even if it was made in error. https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
It is clear that he was trying to get his transaction out as soon as possible, so he was either trying to get his money to an exchange to take advantage of an opportunity or something similar,
If he was in such a rush, he could have just selected "fast" while making a transaction. Ledger shows a warning message when you make a overpriced transaction. Myetherwallet has slow/normal/fast transaction option and before you make a transaction, asks for a confirmation.
That guy wrote on the reddit that he used Metamask. It also have speed options. Dont know why he had chosen to write "gas limit" (misclicked to "gas price"), when with "fast" option it shows that my transaction will get to destination in 29sec. IRL it would take few minutes. Was it so necessary to send funds so fast to uniswap? Doubt it.
And when you add that there are users that prefer to insert the fee themselves in order to not overpay or to at least have greater control over the costs of their transactions, and I will include myself among those, then it makes sense we see mistakes like this from time to time.
How can you confirm the transaction on a fees like that? I don’t know what’s the error here since I only transact small amount of money, well is this a human error or a system error?
If you make a transaction make sure that you checked everything because once you click “OK”, that means you agreed on that transaction and your wallet provider has no liability to you anymore.
If you make a transaction make sure that you checked everything because once you click “OK”, that means you agreed on that transaction and your wallet provider has no liability to you anymore.
Wow, it is not a small amount right. But, how can he still d the transaction or withdrawal if he knew about the fee? Before sending, we need to double-check the wallet, numbers, and also fees. Did he not do it?
Well, this is big trouble in the ETH platform and it may be some errors. If it happens, can we get a refund? Or will ETH be responsible for this?
Well, this is big trouble in the ETH platform and it may be some errors. If it happens, can we get a refund? Or will ETH be responsible for this?
I don't know exactly but maybe because Ethereum 2.0 gives an impact on ethereum network including gas fees it makes such an error. With this error, people are not able to transact because they don't have the amount. For me this case is so simple, just waiting until the error is finished.
Ethereum 2.0 has nothing to with this error, it's the user who is at fault here for not checking if the transaction fee is correct, you will see a confirmation first before you hit the confirm button, because from there you will see the transaction fee, I don't know why he failed to see that, it's total carelessness, this is an isolated case and the blame is on the user.
Another fees error has been registered on ethereum blockchain. According to this news from bitcoin.com
https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
Honestly, I'm amazed by this, how can some pay $9,500 just to send $120, this is the first time I'm hearing such, I really feel for him though, that's a huge mistake and it really costed him alot, not sure if this fault is from the miners, cause they just tell you how much you need to pay, so it's up to you to decide, whether to pay or not, i think this guy was probably in a hurry that he didn't calm down to check the TX fee, that's why it's always advisable to double check before clicking the "send" button. https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
Actually, it is not the first case to have this kind of transaction in eth. But I am wondering how they proceed the send button, when the wallet will ask you about the gas fee to be used in your transaction? Are they reading the pop-ups before pressing the send button? Because whenever I transact with eth tokens, I double check if not triple check the addresses involved and the fees to be used, to avoid mistake or wrong address used.
I don't know exactly but maybe because Ethereum 2.0 gives an impact on ethereum network including gas fees it makes such an error. With this error, people are not able to transact because they don't have the amount. For me this case is so simple, just waiting until the error is finished.
Another fees error has been registered on ethereum blockchain. According to this news from bitcoin.com
https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
Honestly, I'm amazed by this, how can some pay $9,500 just to send $120, this is the first time I'm hearing such, I really feel for him though, that's a huge mistake and it really costed him alot, not sure if this fault is from the miners, cause they just tell you how much you need to pay, so it's up to you to decide, whether to pay or not, i think this guy was probably in a hurry that he didn't calm down to check the TX fee, that's why it's always advisable to double check before clicking the "send" button. https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
That's a fool move. He did not even check his transaction before he proceed it. I never used uniswap yet but we all know that in every transaction there is always confirmation before it take place. However, yet the user committed this mistake, it should be the problem to ethereum network as well. There is so much high fees and it cannot be retrieve again once you confirmed the transaction. This error will not exist if eth has only small fee in every transaction.
Mistakes became already a normal scenario within this industry that we are all currently in. Such mistakes are always committed by the newbies acting that they already know too many things that they are all doing many unnecessary thing all alone. The mistake on this case might be on the part of the sender himself being too impatient for the process of transaction to come along with his wants. People must know specially the newbies that they must be patient and be contented to wait for the transaction to be confirmed for it will surely make happen as long as you are sure about the address you are going to send the transaction. It is just so unfortunate for him that he have spent almost $10,000 just for a $120 transaction which have been prevented if he just become patient on things and consider waiting as an option. People must seek learning first before doing things that are not familiar with them. Yes, doing transactions are just easy with a couple of inputs but if you are not knowledgeable enough, then you might be ending up just what like the guy have suffered.
this is not the first time because many have made mistakes like this. the possibility of people doing this might be because they still don't know about GWEI or maybe it's money laundering, we really don't know what they are planning
These things actually got a lot better in the recent years, it has to be someone who didn't use any proper wallet because almost all wallets now offer you a lot better options to just pick and send, you do not need to do anything else to make it work, you just have to make sure that you click the right button and that's it.
I understand if it was like back in good old days of using blockchain.info where you had to calculate the fee and how much it would cost and you had to send it manually by putting 1 satoshi above so yours would get faster etc etc, those days were definitely something we could have seen this happening all the time. However nowadays you just pick 3 options, slow/medium/fast and you click accept and your money is gone, how could you make a mistake like this when tech is improved at such a level.
I understand if it was like back in good old days of using blockchain.info where you had to calculate the fee and how much it would cost and you had to send it manually by putting 1 satoshi above so yours would get faster etc etc, those days were definitely something we could have seen this happening all the time. However nowadays you just pick 3 options, slow/medium/fast and you click accept and your money is gone, how could you make a mistake like this when tech is improved at such a level.
Do you think that guy set his gas correctly before sending that $120 ? I think there should not be any ethereum blockchain errors . I have never heard about them knowing the fact ethereum is in the market since 2016
He's naming it wrong. It wasn't just a fee error but a human error.
You can do things like that in Bitcoin as well and there were instances where people set higher fees than the coins they were trying to send.
It's an expensive mistake and I agree that there should be a system preventing users from setting their fees too high.
Another fees error has been registered on ethereum blockchain. According to this news from bitcoin.com
https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
Firstly, everyone should stay careful and confirm the details of each transaction to avoid such errors and mistakes.https://news.bitcoin.com/ethereum-user-spends-9500-in-fees-sending-just-120-in-an-error-to-forget/
A guy from reddit has declared to have loss around 10K USD just for a fee error, sending around 80x times more the right amount.
What you think about these errors? What did you think about miners that decide to keep this fees?
But when such mistake occur i think eth network should use their authority and return the extra fee to the user as it was sent by mistake, this will not only boost trust but will help in adoption of the technology.
This are the kind of transactions miners pick with joy while confirming the transaction on a block.
We are human and very prone to mistakes, but I still just feel this mistake is something intentionally done. When making transactions on Metamask, after making an input of gwei and gas, it used to display transaction information and ask for permission to run the transaction.
I believe he saw that and still went ahead.
Two things he is in a hurry to missed the transaction information, the transaction information is always on display you should always and make it a habit to look at the whole transaction, what I mean is to double-check, even triple check and see that things are ok to proceed, in my case I even heck and double-check, if the address is correct, you should be aware that you can make a mistake and by slowing down you can avoid this.
Unfortunately, he did not do this and he has nothing to blame but himself, miners should not feel guilty if they do not want to return the coins, it's not their fault.
That's really an expensive mistake both fault but the other side gain which are the miners and the other one lose which losses $9500 for the transaction alone. Imagine transferring a small amount with a very huge transaction fee.
I know right!This are the kind of transactions miners pick with joy while confirming the transaction on a block.
We are human and very prone to mistakes, but I still just feel this mistake is something intentionally done. When making transactions on Metamask, after making an input of gwei and gas, it used to display transaction information and ask for permission to run the transaction.
I believe he saw that and still went ahead.
That's really an expensive mistake both fault but the other side gain which are the miners and the other one lose which losses $9500 for the transaction alone. Imagine transferring a small amount with a very huge transaction fee.
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