One hapless Ethereum user experienced astronomical transaction fees this week after their crypto bot went awry. The owner of a single address paid 3990 ETH (~$584,000) to send a handful of transactions—leading many to wonder exactly what happened.
What Went Wrong?
Amberdata, an analytics firm, noticed the problem after the incident drove the price of gas up by more than 1700%. The firm then looked more deeply and discovered that the unusual activity was produced by a single address.
At first, Amberdata suspected that money laundering was the motive. However, the firm then looked to see which miners had received the fee and found that the fee had actually gone to different mining pools, including Nanopool, Ethermine, and Sparkpool.
Amberdata then noticed that, in each transaction, the amount of ETH that the user had sent was the…