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On May 23, 2019, a Litecoin user paid 200 LTC for only 8.88 LTC, which can only be described as an epic mistake.
according to Litecoin.com, the transaction that caused a wave of network effects failed in block 1636831.
"This is a rare and unfortunate event, but yesterday, May 23, 2019, a person paid a transaction fee of $ 200,5360,600 LTC with a value of $ 17,536.30. The transaction according to the data provided by blockchair was issued at 08:59 in block 1636831. "
The huge fees have actually resulted in a rapid increase in the costs of the entire network. Transaction fees have increased more than 10 times after the error. Litecoin.com tackled the problem and explained what probably happened.
"The blunder caused an abnormal increase in average network transaction fees for the day, bringing it from about 5 ¢ to 70 ¢, bringing it back to unprecedented levels in the markets, around $ 400. The problem is that the value sent for this exorbitant tax was 8.88199425LTC / 778.77 $, which is 20 times less than the tax. "
It seems that the user is a business and not an individual. The address is new dialect but a lot of funds have been spent.
"The move seems to be a consolidation of funds since more than half of the inputs have been found where they were generated. This address was first seen on the network in 2018-04-05 at 05:33 and has totaled 2,573 completed transactions for a value of 2,870,071.1977,446 LTC / $ 211,490,071.48 with a final balance of 323 , 18795635 LTC / $ 28,747.57.
The address adds and often removes thousands of pieces, which means that it is more likely that is not owned by a network company and not an individual. "
With the event halving the litecoin in August, the value of this 200 LTC tax is likely to increase. When the costly error occurred, the value of 200 LTC was estimated at approximately $ 17,000. But a day later, when Litecoin jumped, 200 LTCs were worth more than $ 20,000.
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