Bitcoin user’s costly error leads to record transaction fee of $510,000

A Bitcoin user paid about 19 BTC, roughly $510,000, in transaction fees to transfer 0.074 BTC (under $2,000) on Sept. 10, the highest fee ever recorded on the Bitcoin network. Per mempool data cited in the article, the user overpaid by more than 480,000 times, while the average fee was $2.176 at press time per ycharts.com. Jameson Lopp, co-founder of CasaHODL, said the error may stem from buggy software at an exchange or payment processor, noting the address had sent more than 60,000 transactions and likely miscalculated the change output. Chun Wang, co-founder of F2Pool, said the fees will be temporarily held for a three-day claim window, after which miners will redistribute them if unclaimed.