Someone just paid a $17,000+ Litecoin Transaction fee.

It’s a rare and unfortunate occurrence when it happens, but yesterday on the 23rd of May 2019 someone paid a 200.00360600 LTC transaction fee valued at $17,536.30. The transaction according to data provided by blockchair was issued at 08:59 within block 1636831.

TXID
2aa61f5b0a36e521a88b33d74a8d985c73ce881b0e28abdfd2f0d74ed7104fda

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The blunder has caused an anomalous spike in the average transaction fees paid on the network for the day, raising it from around 5¢ up to 70¢ returning it to levels last seen at the markets peak around $400 in December of 2017. What’s more concerning is that the value being sent for this exorbitant fee was 8.88199425LTC / $778.77, over 20x less than the fee.

The transaction fee per kB was 83.23080000 LTC / $7,297.68

The fee per kWU was 20.80770000 LTC / $1,824.42

and finally the fee per kVB was 83.23080000 LTC / $7,297.68

The move appears to be a consolidation of funds as over half the inputs ended up back where they had originated. This address was first seen on the network back in 2018–04–05 at 05:33 and has had a total of 2,573 Transactions made valued at 2,870,071.19794546 LTC / $211,490,071.48 move through it with a final balance of 323.18795635 LTC / $28,747.57.

The address frequently adds and removes thousands of coins meaning it is more likely than not owned by a business on the network and not one individual.

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By all accounts this looks like an honest mistake either human error or automated. The miner who took their fee appears to be LTC.TOP a Chinese based pool. It would be advisable to reach out to them as others have done in the past to resolve this issue if those behind the transaction wish to recover the fee.

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