One Ethereum user spent $ 9,300 in fees to send $ 120

An Ethereum user accidentally spent $ 9,300 in transaction fees estimated at only $ 120.

And now this user demands that the Ethereum miners return the money that he sent in the form of a fee by mistake, although there are no conditions or what obligate the miners to return the money to him.

The user with the pseudonym “ProudBitcoiner” posted his experience on the Reddit platform, where he posted a link to the transaction for verification.

The Ethereum user said he had mistakenly sent a fee of 23 Ethereum.

For your information, transaction fees are paid for so-called “gas” through “Gwei” units, a system that can be unfamiliar and confusing to users.

The transaction was made through "MetaMask", a popular Ethereum wallet that works from a web browser, while the user was using Uniswap to exchange cryptocurrencies.

Fees are quickly collected by the "Ethermine" mining pool in less than 30 seconds, as miners tend to prioritize transactions with higher fees.

This user explained what happened to him by saying:

"Metamask" did not fill in the "Gas Limit" field with the correct amount in my previous transaction and that transaction failed, so I decided to manually change it in the next transaction (the one in which the error occurred and which is the focus of our article), instead of writing 200,000 in the field "Gas Limit" I wrote it in Gas price entry field, meaning I paid 200,000 Gwei for this transaction and it ruined my life.

What are the gas fees and transactions in the Ethereum network?

Money transfers on the Ethereum network require gas fees to be entered prior to any transaction, which are then paid to the miners.

The gas limit is the maximum amount of gas a user is willing to pay per transaction, while the gas price is the “Gwei” amount that the user can spend on each unit of gas.

The limit and price are combined together to set the fees for each transaction on the Ethereum network and change constantly based on the network’s request and activity.

Hence the error.

To compare what this user paid in his transaction, we find that he paid a fee of 200,000 "Gwei" while his transaction was not more than 24-33 "Gwei".

This user is now trying to recover some of the lost fees.

He was told on his Reddit post by saying:

I contacted Ethermine on Twitter, I called CEO Peter Bratcher on Twitter, and I've made this post here to help me.

The "Ethermine" community has not yet responded to requests from the "Reddit" user and is not obligated to do so of course.

Any typographical errors during cryptocurrency transactions are known to be irreversible, and miners will not surrender their profits unless they want to do so.

This user demands some hope that his money will return to him, as he believes that the "Ethermine" complex is a well-intentioned complex, and he hopes that he is right.

A number of similar transactions occurred in the past, where one of the parties paid transactions with millions of fees on Ethereum and also obtained the Ethermine complex, and the parent company that manages this complex stated that it will return this amount in the event that the party that sent this amount calls with a notice of non-return in the future.

The bottom line is that the holder of digital currencies has to enjoy some responsibility, caution, and good confirmation of the transaction before completing it, because, as is known in the decentralized cryptocurrency market, individuals are the ones who run their own banks.