A Bitcoin blockchain user accidentally paid 1.6 BTC, approximately $103,000, in transaction fees for a transfer that sent no bitcoin at all. On-chain data reveals that the fees paid were 39,000 times higher than the usual amount. The transaction was confirmed after 29 minutes, with the entire balance consumed by fees. According to bitcoin enthusiast Cauê Oliveira, this massive error was caused by a bug in the Replace-by-Fee (RBF) feature, which allows replacing an unconfirmed transaction with another one bearing higher fees. Similar incidents can occur with incorrect slippage settings on Ethereum (ETH), resulting in the total loss of committed funds.
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