In a ‘fat finger error,’ the Bitfinex cryptocurrency exchange accidentally sends $24 million in Tether.

Bitfinex, a Hong Kong-based cryptocurrency exchange, was able to recover over $22 million (roughly Rs. 163 crores) in Tether cryptocurrency that had been mistakenly spent. Bitfinex paid $24 million in fees (roughly Rs.178 crores) while sending $100,000 (roughly Rs. 74.2 lakhs) in Ether earlier this week. The fee was only $33 in total. One of Bitfinex’s mail wallets was depleted of the funds. The incident has been dubbed a “fat finger” blunder by some.

“On the 27th September, a deposit transaction was made using a hardware wallet from the main DeversiFi user interface,” a spokesman for DeversiFi told news.
The large Tether transaction was sent to an unidentified high-ranking Ethereum miner, who promptly refunded the funds.
While the specific cause of the mistake is unknown, DeversiFi claims to have started an inquiry into the matter.

It’s also unclear what would happen to the remaining amount of approximately $2 million (about Rs. 15 crores) in Bitfinex’s bitcoin wallet.

While the specific cause of the mistake is unknown, DeversiFi claims to have started an inquiry into the matter.

It’s also unclear what will happen to the remaining balance of more than $2 million (approximately Rs. 15 crores) in Bitfinex’s cryptocurrency wallet.

However, according to Business Insider, Ethereum transaction costs have increased as the blockchain network has become more popular.