A Bitcoin user accidentally overpaid over $60,000 due to a misunderstanding of fee units during a replace-by-fee (RBF) transaction. Initially, the user sent 0.48 BTC with a standard fee which was too low for quick confirmation. In subsequent attempts to expedite the transaction, the user mistakenly spent 0.75 BTC as fees by failing to redirect change to their address. Crypto experts emphasize the need for users to double-check fee calculations and utilize trusted wallets to ensure transaction accuracy and to avoid such costly errors.
The accidental overpayment of over $60,000 occurred due to misunderstanding fee units in a replace-by-fee transaction, highlighting the importance of verifying transaction details.
Mistakes in Bitcoin transactions can result in extreme consequences, like when a user confused sat/vB with total satoshis and ended up paying 0.75 BTC in fees.
Collection
[
|
...
]