Bithumb Shares Insights on That $2.6M ETH Transaction

According to Bithumb, the Ether that paid a $2.5 million transaction fee ended up in its coffers.

According to Bithumb, the 0.55 Ethers (ETH) that incurred a $2.6 million transaction fee ended up in one of the exchange’s wallets.

Mistake or money laundering?

Earlier today, someone paid 10,668.73 Ethers in gas to move $134 worth of the asset from one wallet to another. For comparison, today’s average gas price is $0.34. The most natural assumption is that the sender must have made a mistake.

Though the sender has not come forward, SparkPool, the miner that mined the transaction’s block, has frozen it until they can figure out what happened.

Biggest transaction ever

A spokesperson for Coinfirm, suggested that instead of this being an unfortunate mishap, there is also a possibility that someone could be attempting to launder money through an elaborate scheme. Either way, this is the biggest inflow of capital SparkPool has ever experienced.

SparkPool Biggest Transactions. Source. Crystal.

A Bithumb spokesperson confirmed to Cointelegraph that the recipient address belongs to one of its clients, and that later the transactional 0.55 ETH was moved to its cold wallet.

We will keep you updated as more information about this transaction comes in.