Home » Uniswap trader spends $9,500 in fees on $120 transaction
Ethereum News

Uniswap trader spends $9,500 in fees on $120 transaction

Uniswap trader spends $9,500 in fees on $120 transaction

A slipshod dealer claims to have “destroyed” their life after inadvertently paying $9,500 in charges for a $120 transaction on the decentralized trade (DEX) Uniswap.

On Nov. 5, Reddit person ‘ProudBitcoiner’ posted that he had by accident paid 23.5172 Ether (ETH) for a single commerce after getting the “Fuel Restrict” and “Fuel Worth” enter containers confused within the MetaMask pockets.

“Metamask did not populate the ‘Fuel Restrict’ area with the correct quantity in my earlier transaction and that transaction failed, so I made a decision to alter it manually within the subsequent transaction […] however as a substitute of typing 200,000 in ‘Fuel Restrict’ enter area, I wrote it on the ‘Fuel Worth’ enter area, so I payed 200,000 GWEI for this transaction and destroyed my life.”

Uniswap is a non-custodial trade for ERC-20 tokens, which means that trades are executed immediately from a person’s pockets — permitting them to manually set the gasoline costs they’re keen to pay for a transaction.

The person famous that they had just lately downloaded MetaMask model 8.1.2, and had not beforehand encountered issues with the inhabitants of the Fuel Restrict area earlier than.

Redditor ‘Mcgillby’ advised that MetaMask introduce safeguards forcing customers to substantiate a transaction when the inputted Fuel Worth considerably exceeds the estimated value calculated by the pockets:

“You assume they’d have some warning go off like ‘You’re exceeding the quantity wanted to be included within the subsequent block by a big quantity’ and make you verify. Metamask already calculates the beneficial gasoline value routinely so I do not see any purpose they can not have an additional affirmation if somebody exceeds the beneficial gasoline value by an enormous margin.

In June, Cointelegraph reported on two mysterious transactions that every spent $2.6 million in charges to switch roughly $130 value of Ether. Analysts provided varied explanations for the transactions, together with a possible bug in a cash laundering bot, revenge towards a former worker, or easy human error.

Credit score: Source link

Spread the love

Related posts

Bitcoin is Enough, Satoshi Should Stay Out

admin

Vitalik Says DeFi Users Are ‘Underestimating Smart Contract Risk’

admin

Coinbase Welcomes Compound DeFi to its Platform

admin

Leave a Comment