{"id":345022,"date":"2021-09-27T22:00:00","date_gmt":"2021-09-27T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitfinex-paid-a-colossal-23m-fee-to-send-100k-of-usdt\/"},"modified":"2021-09-27T22:00:00","modified_gmt":"2021-09-27T19:00:00","slug":"bitfinex-paid-a-colossal-23m-fee-to-send-100k-of-usdt","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitfinex-paid-a-colossal-23m-fee-to-send-100k-of-usdt\/","title":{"rendered":"# Bitfinex paid a colossal $23M fee to send $100K of USDT"},"content":{"rendered":"

“# Bitfinex paid a colossal $23M fee to send $100K of USDT <\/strong>”
\n<\/p>\n

Crypto exchange Bitfinex completed a highly consequential\u00a0transaction today when sending $100,000 of the stablecoin Tether (USDT) to the layer-2 subsidiary platform DeversiFi. For reasons unknown, the exchange paid 7,676 ETH, equivalent to $23.7 million, marking quite possibly the largest gas fee ever-recorded on the Ethereum blockchain.\u00a0<\/p>\n

According to blockchain data<\/a> from EtherScan, the deposit transaction was initiated at 11:10 UTC this morning from Bitfinex\u2019s second largest wallet, via a second address, to the wallet of DeversiFi. The transaction carried an \u201cerroneously high gas fee\u201d, albeit DeversiFi promoting a service to \u201cavoid gas costs and frustration, saving you time and money with every trade or swap.\u201d<\/p>\n

To put the enormity of this fee into context, consider the fact that the average transaction fee<\/a> on the Ethereum blockchain currently stands at 0.013 ETH, or $39.96. In addition to this, two weeks ago,\u00a0$2 billion of BTC was transferred between unknown wallets for an infinitesimal fee of $0.78.<\/p>\n

DeversiFi revealed that they have launched investigative procedures to determine the most probable cause of the matter, whilst also adding that: \u201cno customer funds on DeversiFi are at risk and this is an internal issue for DeversiFi to resolve\u201d, as well as that operations are unaffected.\u201d<\/p>\n

In response, Bitfinex tweeted that: \u201cIn transactions such as these, the fees are shouldered by third party integrations with Bitfinex” suggesting that the exchange will not directly bear the burden of the fee.<\/p>\n

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In transactions such as these, the fees are shouldered by third party integrations with Bitfinex. This has also been confirmed by DeversiFi in their recent statement. We look forward to DeversiFi’s investigation and to their having this matter sorted on their side. https:\/\/t.co\/OqwNTuLAel<\/a><\/p>\n

\u2014 Bitfinex (@bitfinex) September 27, 2021<\/a><\/p><\/blockquote>\n