A record-breaking transaction of 10,000 Ethereum
A record-breaking transaction of 10,000 Ethereum
Ethereum

A record-breaking transaction of 10,000 Ethereum

By Alfredo de Candia - 10 Jun 2020

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In the last few hours, a record-breaking transaction has taken place, the most expensive in the history of the Ethereum blockchain. In terms of amount, it can be compared to the famous BTC spent on the purchase of 2 pizzas.

ETH transaction

In fact, when checking details on Etherscan, it is possible to see that the transaction was just 0.55 Ethereum (ETH) and therefore 133 dollars, the fee paid was 10633 ETH, about 2.5 million dollars.

From what can be seen, a gas limit of 21 thousand ETH has been set, which suggests that one of the following errors has been made:

  • the transaction field was reversed with the cost of the gas;
  • it was done on purpose to exploit this system for money laundering.

When checking the address it is possible to see thousands of transactions carried out, so based on the amount of transactions it is possible to deduce that there is a BOT that is carrying out many ETH transactions: in fact, we are talking about an address that has more than 46 thousand ETH, hence more than 11 million dollars.

Moreover, examining this address, we can that it was created recently and that it has constantly received funds that it continues to divide into a series of smaller addresses. 

This pattern is found when criminals decide to divide a figure that would be too big to handle, creating thousands of addresses and then liquidating minimum amounts so as not to be noticed and thus remain undetected.

In fact, many transactions are going to different exchanges, such as Bithumb and also in the contract of the Tether (USDT) stablecoin.

We are certainly not in the presence of a random transaction, it is very likely that it was done intentionally. 

One hypothesis is that the transaction was sent to a proprietary node but without spreading it and putting it in each block so as to be sure to retrieve it.

 

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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