Bitcoin

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<p>A <a href="https://en.coin-turk.com/bitcoin-breaks-the-record-of-1-million-lira-against-the-turkish-lira/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> user made a startling claim about paying a record transaction fee of $3 million for a $2.1 million Bitcoin (<a href="https://en.coin-turk.com/why-bitcoin-is-a-better-investment-than-gold-according-to-googles-ai-platform/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) transaction. The user alleged to be a victim of a hack attack. They claimed that last week, a hacker stole 139 BTC from them, linked to the record transaction fee of 83.65 BTC ($3.1 million). To support their claim, the user signed a message with the key that executed the transaction.</p>
<h2 id="i-paid-the-3-1-million-transaction-fee">“I Paid the $3.1 Million Transaction Fee”</h2>
<p>Last Thursday, it was revealed that a Bitcoin user accidentally paid a transaction fee of over $3.1 million for 83.65 BTC. This record fee was six times higher than the previous record of $500,000 paid in September. A person claiming to be the payer and a victim of a hack attack created a new X (formerly Twitter) account with the handle “@83_5BTC” similar to the fee amount paid.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-281437" src="https://coin-turk.com/wp-content/uploads/2023/11/Bitcoin-islem-ucreti.jpeg" alt="" width="1280" height="720"></p>
<p>The user shared the incident via the X account, stating, “I created a new cold wallet address, transferred 139 BTC, and the BTCs were immediately moved to another wallet address. I suspect someone ran a script from that wallet address which calculated a strange transaction fee.” They mentioned that for the transfer of 55.77 BTC ($2.1 million), an 83.65 BTC fee was paid. The balance of the wallet before the transaction was 139.42 BTC ($5.2 million). The user added, “The 55 BTC are gone forever. A decision is pending for the 83.5 BTC.” They signed a message from the Bitcoin wallet address stating they are “@83_5BTC, the owner of the wallet address that paid the high transaction fee.” The signature was verified by Mononaut, an anonymous developer behind Bitcoin Explorer Mempool. Casa’s co-founder and CTO Jameson Lopp also confirmed the signature.</p>
<p>However, Mononaut added that if the wallet address had been compromised, the message could have been signed by a hacker. According to the Blockchain explorer Blockchair, the transaction was mined by AntPool in block number 818,087. The previous record fee of $500,000 paid in September was later identified as a high payment made in error by crypto services provider Paxos, and F2Pool agreed to refund Paxos. It is not yet known if AntPool will make a similar agreement, but if such a decision is made, another method will be needed to verify the victim’s identity. A community member known as “niftydev” claimed to know the person behind the @83_5BTC account and asserted they were the owner, not the attacker. AntPool has not yet made a public comment on the transaction, and The Block’s request for comment has not been responded to.</p>
<h2 id="wallet-address-may-have-been-created-with-insufficient-randomness">Wallet Address May Have Been Created with Insufficient Randomness</h2>
<p>According to Mononaut, the most likely reason for the record transaction fee of $3.1 million was a wallet address created with insufficient randomness, making it vulnerable to hack attacks. The transaction was quickly processed using a Bitcoin protocol feature called replace-by-fee (RBF) that allows the sender to increase the transaction fee of an unconfirmed transaction to be processed faster by the network.</p>
<p>The developer suggested if a wallet address was created with insufficient randomness, multiple hackers could be competing to steal the funds, and to block their competitors, they may have configured scripts to spend a significant part of the transaction as a high fee. Mononaut later pointed out that the paid transaction fee was exactly 60% of the stolen total of 139.42 BTC, and a potential attacker also swept away 0.001 BTC by paying a fee of 0.0006 BTC from the same address. The developer mentioned that this could be reasonable evidence for an automatic script set to pay a fixed 60% of the value as a fee to steal BTCs sent to vulnerable wallet addresses, combined with the speed of the theft. This 60% fee could have replaced an initial fee of 51% of the transaction, which could be from a different hacker or part of the same strategy.</p>
<p>Mononaut added, “This serves as a reminder not to take shortcuts with insufficient randomness and ideally use multisig (multi-signature) wallet addresses for very large amounts.”</p> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-user-claims-3-1-million-fee-was-a-hack-not-an-error/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-user-claims-3-1-million-fee-was-a-hack-not-an-error/</a>

Bitcoin User Claims $3.1 Million Fee Was a Hack, Not an Error

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