One of the biggest crypto exchange, Bitfinex, has paid 7,676 eth, worth $23.5 million, to transfer $100,000 USDt from Bitfinex’s account to DeversiFi, a dapp by Bitfinex.<\/p>\n
The transfer was made earlier today with eth fees currently standing at 58 gwei, or $3.7 for a simple transaction.<\/p>\n
The gas limit for the Finex transaction is nearly 170,000, so a $100 fee might have been warranted for a timely confirmation.<\/p>\n
Some noob intern however has clearly made a mistake somewhere and maybe has put the gwei amount same as the gas limit, so 160,000 gwei, or about 10,000x more than the usual base fee.<\/p>\n
They thus just lost $23.5 million, which nowadays instead of going to miners, gets burned in eth.<\/p>\n
So their mistake is everyone’s gain with eth currently at least $23.5 million more valuable because the Bitfinex noob has just burned that much of the supply.<\/p>\n