Eden

<p>The post <a href="https://coinpedia.org/crypto-live-news/magic-eden-redirects-utxos-to-coinbase/">Magic Eden Redirects UTXOs to Coinbase</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Deezy founder Danny revealed on X that Magic Eden, Bitcoin’s largest NFT marketplace, is exploiting Coinbase by processing small transaction outputs. Magic Eden directs these tiny outputs, like 1000-2000 sats, to their Coinbase account instead of their own address. As a result, Coinbase combines these outputs and covers the associated fees, unaware of the exploitation. Danny’s discovery uncovers Magic Eden’s clever strategy to save fees while Coinbase unknowingly incurs additional costs. This unexpected move has sparked discussions on Twitter about the implications for large crypto exchanges.</p>

Magic Eden Redirects UTXOs to Coinbase

CoinPedia News

Other articles published on May 20, 2024

Wisdomise: AI-Driven Financial Empowerment for All

Vitalik Buterin Shares Rare Ethereum (ETH) Roadmap Update

CPI report spurs $932M inflows into crypto investment funds

Ripple Urges Adoption of Quantum-Resistant Cryptography Following Expert Warnings

Fed Officials Discuss Future Strategies

Elizabeth Warren Defeated! MAJOR Crypto Bills Soon!!

Join our free newsletter for daily crypto updates!