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https://decrypt.co/31956/an-ethereum-user-lost-5-2-million-in-two-massive-mistakes https://decrypt.co/31956/an-ethereum-user-lost-5-2-million-i... And if you f

https://decrypt.co/31956/an-ethereum-user-lost-5-2-million-in-two-massive-mistakes https://decrypt.co/31956/an-ethereum-user-lost-5-2-million-i... And if you fat-fingered the transaction, you could have transferred $0.48 for $1B in fees with no way to reverse that.

ShorsHammer 6y ago
There's a 1 in 4 billion chance of fat fingering it. https://learnmeabitcoin.com/guide/checksum https://learnmeabitcoin.com/guide/checksum The thing to be really aware about is insidious malware that detects valid bitcoin addresses being copied and modifies them in place, sometimes even to the point of including the same first/last alphanumerics to a certain degree. You'd hopefully be using a bootable linux distro and multisig for transferring such amounts.
- pjc50 6y ago
  Doesn't stop you from making a UI error and entering the wrong value in the wrong box.
  - Cthulhu_ 6y ago
    Said UI could protect the user from it though, by not accepting a 'fee' value more than 10% over the current average (for example).
  - ShorsHammer 6y ago
    I'd suggest double checking it in such instances and not doing it drunk at 2am like a wall street trader.
gruez 6y ago
1. that's ethereum, not bitcoin. bitcoin core specifically has checks to prevent transactions with unusually high transactions fees from being broadcast https://bitcoin-rpc.github.io/en/doc/0.16.0/rpc/rawtransactions/sendrawtransaction/ https://bitcoin-rpc.github.io/en/doc/0.16.0/rpc/rawtransacti... (see the allowhighfees parameter) 2. In all likelihood this is someone manually crafting a transaction. It's not going to happen to your typical user (eg. your granny). A better analogy to this situation would be someone's trading bot going awry and losing thousands/millions on the market.
tootahe45 6y ago
There's probably a good chance you could reverse it if you bribed the right 'thought leaders' in the bitcoin community. The Ethereum team was considering pushing an update to reverse a much smaller amount when one of their donators lost money due to a bug, not sure if they followed through. Something similar was also seriously discussed by bitcoin devs when binance lost 40m to a hack not long ago.

ShorsHammer 6y ago

There's a 1 in 4 billion chance of fat fingering it. https://learnmeabitcoin.com/guide/checksum https://learnmeabitcoin.com/guide/checksum The thing to be really aware about is insidious malware that detects valid bitcoin addresses being copied and modifies them in place, sometimes even to the point of including the same first/last alphanumerics to a certain degree. You'd hopefully be using a bootable linux distro and multisig for transferring such amounts.

pjc50 6y ago
Doesn't stop you from making a UI error and entering the wrong value in the wrong box.
- Cthulhu_ 6y ago
  Said UI could protect the user from it though, by not accepting a 'fee' value more than 10% over the current average (for example).
- ShorsHammer 6y ago
  I'd suggest double checking it in such instances and not doing it drunk at 2am like a wall street trader.

gruez 6y ago

1. that's ethereum, not bitcoin. bitcoin core specifically has checks to prevent transactions with unusually high transactions fees from being broadcast https://bitcoin-rpc.github.io/en/doc/0.16.0/rpc/rawtransactions/sendrawtransaction/ https://bitcoin-rpc.github.io/en/doc/0.16.0/rpc/rawtransacti... (see the allowhighfees parameter) 2. In all likelihood this is someone manually crafting a transaction. It's not going to happen to your typical user (eg. your granny). A better analogy to this situation would be someone's trading bot going awry and losing thousands/millions on the market.

tootahe45 6y ago

There's probably a good chance you could reverse it if you bribed the right 'thought leaders' in the bitcoin community. The Ethereum team was considering pushing an update to reverse a much smaller amount when one of their donators lost money due to a bug, not sure if they followed through. Something similar was also seriously discussed by bitcoin devs when binance lost 40m to a hack not long ago.