Log in

News

Bitfinex spends $23.7 million in fees to complete $100,000 transaction

Updated: Jul 25, 2024
Published: Sep 27, 2021
0
Share:

Crypto exchange Bitfinex has paid $23.7 million in transaction fees to send $100,000 in Tether (USDT).

Post Feature Image

The transaction of Bitfinex was made on DeversiFi

Bitfinex completed the transaction about three hours ago. The transaction was sent from Bitfinex's main wallet, and the money ended up in a wallet on the non-custodial exchange DeversiFi. This exchange was acquired by Bitfinex in 2019 and was the front-end used in this costly transaction.

A spokesperson of DeversiFi tweeted on their main account that on September 27 at 11:10 UTC, a deposit transaction was made via a hardware wallet on DeversiFi's main user interface. The tweet explains that the transaction had an "erroneously high gas fee." He also pointed out that no customer funds on DeversiFi were compromised and that it is an internal issue that DeversiFi needs to fix. According to the tweet, DeversiFi's operations have not been affected, and the company is currently investigating the cause to determine how the issue could have occurred.

The most expensive Ethereum transaction fee ever paid?

The lucky miner of the block that included this transaction, is an unknown Ethereum miner and one of the top ten miners by blocks in the last seven days. The gas limit for the transaction itself was 169,595 instead of the regular gas limit of 21,000. 85% of this gas was used, resulting in this extremely high fee of $23.7 million. The transaction was made through the recently implemented EIP-1559, which also means that 0.053 ETH was burned.

It is possible that this is the most expensive Ethereum transaction ever paid in dollars. The last notable transactions with this high of a transaction fee were two transactions in June 2020 that totaled $5.2 million in fees.

Continue reading by joining Cryptonary Pro

Save 50%

$997 $497/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

As a Cryptonary Pro subscriber, you also get:

  • 3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

3X Value Guarantee

If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.

Terms & Conditions apply

Star

Trusted by 300,000+ investors

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.

Recommended from Cryptonary
Yield Watch: Safest Passive Income Ranges For 2026
PRO
Yield farming
Yield Watch: Safest Passive Income ...As Christmas approaches and the year comes to a close, markets are entering a quieter, less volatile...
4 min read
Dec 24, 2025
BTC, ETH and More: Markets Remain Range Bound
PRO
Market Direction
BTC, ETH and More: Markets Remain R...Momentum is slowing as markets push into year-end, with repeated rejections keeping price locked in ...
10 min read
Dec 23, 2025
Market Update: How Low Can BTC Go?
PRO
Market Updates
Market Update: How Low Can BTC Go?While US jobs and inflation are clearly cooling, bond markets and central banks are sending a more c...
9 min read
Dec 19, 2025