Topic: Someone just paid $2,6M in fees while sending just $133 in ETH (Read 1283 times)
This was a case of money laundry. Some claims that it's a means of laundering the PlusToken scam funds. Wallets has maximum cost per transaction this se der outrightly inputed the amount to be sent as fees and rebroadcast it to own or friend pool for mining. I'm glad the crypto community was watching this event unfold.
Here is an update to this story: A South Korean ponzi is claiming that they were hacked so the blackmailing theory seems to be the correct one.
Read this : https://www.theblockcrypto.com/linked/68593/the-sender-of-5-million-ethereum-transaction-fees-has-revealed-itself
According to link above they were late in claiming the first one, so the mining pool already distributed that to its miners while they contacted Sparkpool just in time before deadline. Still million worth of fees distributed amongst miners.
That must have made their day.
Read this : https://www.theblockcrypto.com/linked/68593/the-sender-of-5-million-ethereum-transaction-fees-has-revealed-itself
According to link above they were late in claiming the first one, so the mining pool already distributed that to its miners while they contacted Sparkpool just in time before deadline. Still million worth of fees distributed amongst miners.
That must have made their day.As it seems to be money from a ponzi site anyway i don't mind so much. I wonder why they didn't have time to claim it. If it would be my money, i would follow every story about it that i could find. Maybe it was because of the language barrier.
Here is an update to this story: A South Korean ponzi is claiming that they were hacked so the blackmailing theory seems to be the correct one.
Read this : https://www.theblockcrypto.com/linked/68593/the-sender-of-5-million-ethereum-transaction-fees-has-revealed-itself
According to link above they were late in claiming the first one, so the mining pool already distributed that to its miners while they contacted Sparkpool just in time before deadline. Still million worth of fees distributed amongst miners. That must have made their day.
Read this : https://www.theblockcrypto.com/linked/68593/the-sender-of-5-million-ethereum-transaction-fees-has-revealed-itself
According to link above they were late in claiming the first one, so the mining pool already distributed that to its miners while they contacted Sparkpool just in time before deadline. Still million worth of fees distributed amongst miners.
That must have made their day. What is the point of blackmailing with the fees? I mean you can't really get the money yourself and if you keep this up how are they going to pay you as well? It is a method for sure but it is not really a great method, it is just a bad one. They probably had no other way to extort money from the exchanges so they did this one as last hope.
I am pretty sure exchanges would rather spend millions of dollars on improving and even stopping all action and getting all the blowback from this over paying up. How could they hope that exchanges will not do anything about it? What would be the end result of that? I am sure they will fix whatever the problem was and whatever allowed hackers to do this and move on with their life and since they make so much money as exchanges they will just cover the loss from their income.
I am pretty sure exchanges would rather spend millions of dollars on improving and even stopping all action and getting all the blowback from this over paying up. How could they hope that exchanges will not do anything about it? What would be the end result of that? I am sure they will fix whatever the problem was and whatever allowed hackers to do this and move on with their life and since they make so much money as exchanges they will just cover the loss from their income.
Yeah, that was a strange theory, and ZenGo research is trying to debunk that. But what i find strange is that no one was coming out claiming that it would be their eth. Some sort of coin washing is starting to be more probable.
https://decrypt.co/32570/crypto-researcher-rebuts-ethereum-fee-blackmail-theory
Update on the matter
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
What is the point of blackmailing with the fees? I mean you can't really get the money yourself and if you keep this up how are they going to pay you as well? It is a method for sure but it is not really a great method, it is just a bad one. They probably had no other way to extort money from the exchanges so they did this one as last hope.Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
I am pretty sure exchanges would rather spend millions of dollars on improving and even stopping all action and getting all the blowback from this over paying up. How could they hope that exchanges will not do anything about it? What would be the end result of that? I am sure they will fix whatever the problem was and whatever allowed hackers to do this and move on with their life and since they make so much money as exchanges they will just cover the loss from their income.
I never thought, after seeing the history of transactions that cost $ 2 million and I think this is crazy. I can't imagine how upset the owner of this wallet is, is this purely the owner's fault or the ethereum block chain error?
There are some that speculate this could be some kind of plan to somehow make that money legitimate, however there is now way this was error of the ethereum network, if anything this was a user mistake, however can you imagine how much this is going to sting in the future if this was a mistake? The price of ethereum now is of 225 if ETH reaches its all time high again then we are talking that this person would have paid close to 16 million dollars just in fees!I have received a lot of criticism for my previous posts on this subject. But I would stick to my assumptions. The theory that the individual was trying to benefit by setting the gas fee to a very high level is laughable. Any potential benefits to him may be minuscule compared to the amount he wasted. I am once again repeating this: this was done by a hacker, and not by the real owner of those coins. No one would spend hard earned coins in such a reckless way (unless he is having some mental issue such as suicidal tendency). And there is no chance that the gas fee was set to such a level as a result of the mistake. All of this points to the exchange blackmail theory.
I never thought, after seeing the history of transactions that cost $ 2 million and I think this is crazy. I can't imagine how upset the owner of this wallet is, is this purely the owner's fault or the ethereum block chain error?
I think there are a variety of possibilities that can occur, one of which is the possibility to do money laundering with a new method and the possibility of also doing the transaction because it really wants to be famous, but I think that possibility is a deliberate factor because when wanting to send cryptocurrency assets there must be confirmation first to withdraw funds to another wallet. 
I never thought, after seeing the history of transactions that cost $ 2 million and I think this is crazy. I can't imagine how upset the owner of this wallet is, is this purely the owner's fault or the ethereum block chain error?
There are some that speculate this could be some kind of plan to somehow make that money legitimate, however there is now way this was error of the ethereum network, if anything this was a user mistake, however can you imagine how much this is going to sting in the future if this was a mistake? The price of ethereum now is of 225 if ETH reaches its all time high again then we are talking that this person would have paid close to 16 million dollars just in fees! there is the latest news that the sender reportedly did make a mistake to set Gas, but I think that it is purely from the ethereum platform,
because I also feel that the Fee is too high
because I also feel that the Fee is too high
There have been a lot of conspiracy theories regarding this transaction, but this one is not very believable. I have also set the gas price in MEW, and it is not very likely that such a price was set by mistake. I am 99.99% sure that the price was set intentionally. Anyway, in the coming days more details will become available and then we'll be able to confirm it.
maybe you were right maybe they intend it to gain attraction or to make them on the headlines . only its too pricey to pull such trick like this but we must not worry because its thier money anyway not ours and besides they say the wallet still have a huge balance left . what he lost is like only a 2 percent of whats left ln his purse . this still gives a wake up call to us or to those that are always on a hurry or simply careless enough by not double checking the amounts and the fees before they send a crypto .
there is the latest news that the sender reportedly did make a mistake to set Gas, but I think that it is purely from the ethereum platform,
because I also feel that the Fee is too high
because I also feel that the Fee is too high
There have been a lot of conspiracy theories regarding this transaction, but this one is not very believable. I have also set the gas price in MEW, and it is not very likely that such a price was set by mistake. I am 99.99% sure that the price was set intentionally. Anyway, in the coming days more details will become available and then we'll be able to confirm it.
Update on the matter
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
I have updated this link to the first post 2 days ago. However, this is just another theory, and while it's a good theory, it's still just speculation. We might never hear what has really happened behind the curtains unless the owner comes forward, and i find that unlikely.
there is the latest news that the sender reportedly did make a mistake to set Gas, but I think that it is purely from the ethereum platform,
because I also feel that the Fee is too high
because I also feel that the Fee is too high
At first I thought it was just mistakes but until the third transaction and same thing happened again, seems something strange. If the article is true that the hackers blackmail the exchange, why the hackers spend millions for the gas fee?, with that millions they can send it to their address, I don't know what's in their mind.
The exchange has no name on one article I read so it could be the current exchange that we are trading, the name of the exchange should be mentioned so people will not think of any exchange, but this is a new way of hacking if hackers cannot send to their own address they just use all the funds in gas fee to whitelisted address, an amazing strategy, but unless the exchange is named and confirmed it we can only speculate.
I would assume that it is a medium-sized or even a small sized exchange. Because it happened to major exchanges such as Huobi or Binance, they would have already kicked the butt of the hacker. From this modus operandi, the hacker seems to be an immature guy. The exchange just needs to hire some professionals to identify this guy, and then they can take the necessary legal action.
Please, do not assume anything.
The exchange has no name on one article I read so it could be the current exchange that we are trading, the name of the exchange should be mentioned so people will not think of any exchange, but this is a new way of hacking if hackers cannot send to their own address they just use all the funds in gas fee to whitelisted address, an amazing strategy, but unless the exchange is named and confirmed it we can only speculate.
I would assume that it is a medium-sized or even a small sized exchange. Because it happened to major exchanges such as Huobi or Binance, they would have already kicked the butt of the hacker. From this modus operandi, the hacker seems to be an immature guy. The exchange just needs to hire some professionals to identify this guy, and then they can take the necessary legal action.
Update on the matter
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
The exchange has no name on one article I read so it could be the current exchange that we are trading, the name of the exchange should be mentioned so people will not think of any exchange, but this is a new way of hacking if hackers cannot send to their own address they just use all the funds in gas fee to whitelisted address, an amazing strategy, but unless the exchange is named and confirmed it we can only speculate.
So how reliable you guys think PeckShield is? As of now, no one is sure whether this is a GasPrice ransomware attack. But I have to say, in case this theory is true, this is a very bizarre type of ransom attack. If the exchange doesn't heed to the threats, then the hackers won't gain anything. But at the same time the exchange may lose huge amounts.
It was very strange, but what I feared was that the hacker learned something from this case and succeeded in developing a peckshield to an even more horrifying ransome and they managed to get millions of dollars without having to waste a lot of gas fees. yes this case has happened and in my opinion this may be because the sender does not know how to do ethereum delivery which has a certain gas and maybe the sender did it deliberately because it has too much ethereum. 
The sender sure knew how to use or how it works because he/she has and ethereum wallet and there more than like $11mnl in his accounts with numbers of transactions. How come he/she would not know that kind of stuff. Probably he/she was wasn't aware where did he/she the numbers he/she was sending and that is the result.
So how reliable you guys think PeckShield is? As of now, no one is sure whether this is a GasPrice ransomware attack. But I have to say, in case this theory is true, this is a very bizarre type of ransom attack. If the exchange doesn't heed to the threats, then the hackers won't gain anything. But at the same time the exchange may lose huge amounts.
Update on the matter
Hackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
But how can hackers get that money? As far as I know, the fees will be transferred to the miners. And if the truth is what you say, this is a very bad in this marketHackers blackmail exchange with $5 million of Ethereum fees: in the last days, three bizarre Ethereum transactions have spent $5.7 million on fees. But a report claims it’s not a bug—an exchange is being blackmailed.
https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
Did you read the article at all? According to this theory hackers are not getting the money, it's just blackmailing. Honestly i think that there's more into this and i can't see this theory itself affecting the market.
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