December 28, 2017 4:39 PM
It pays to double-check your numbers. Unfortunately, one altcoin amateur learned that lesson the hard way.
In a less than delightful Christmas story, a hapless cryptocurrency user relieved himself of $73,786 worth of tokens. It appears that the unfortunate individual accidentally entered his gas fee in the field for the amount to send (and vice versa).
So, for a fee of 70 G’s, the altcoin amateur sent a meager $22.22 to another wallet… Oof!
I’m a firm believer in learning from other people’s mistakes, and even though this happened on the Verge blockchain, it ought to be a lesson to all cryptocurrency stakeholders. Don’t be careless!
On Twitter, Prohashing, the pool that mined block 1,750,345, offered congratulations to its participants on the payout.
Still, it’s hard not to feel bad for the altcoin dabbler. Entering incorrect information while sending a cryptocurrency transaction remains a terrifying proposition and without insurance, there’s little recourse.
Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles. Matthew is a full-time staff writer for ETHNews.
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