Global top three exchanges OKX last night experienced a suspected error in the testing aggregation program, leading to a situation where self-trading bidding occurred, causing transaction fees to soar out of control. During this period, transaction fees amounting to 254.28 BTC were incurred, valued at over 17.6 million USD.
Bitcoin memory pools and blockchain browser mempool founder mononaut tweeted this morning that OKX conducted a major wallet aggregation operation on Friday night, but encountered a situation of self-trading bidding, resulting in soaring transaction fees. According to screenshots from the community, there was a moment when one block fee burned 5 BTC abnormally.
Source: @1999_eth
OKX mistakenly burnt over 254 BTC in transaction fees. Subsequently, mononaut summarized all confirmed and pending OKX wallet aggregation operation data starting from block 846867, indicating that during this period, a total of 254.28 BTC in transaction fees were incurred, currently valued at approximately 17.64 million USD. There were 2385 transactions generated, 357092 inputs, an average fee rate of 246.65 s/vb, and total transaction fees of 254.28 BTC (valued at around 17.6 million USD).
Funds aggregation, also known as fund sweeping, refers to the operation of consolidating and transferring funds from all sub-address wallets in an account to a specified account (essentially a transfer transaction). This function is beneficial for fund management and operation, improves work efficiency, and has become a necessary basic function for wallets, exchanges, asset management platforms, and other centralized platforms.
OKX confirms: “Testing” aggregation program. The exaggerated data has led the community to speculate that there may be an issue with OKX’s aggregation script. In response, OKX officially confirmed last night that it was due to the technical team “testing an aggregation program.” In response to OKX’s statement, mononaut joked, “I really wish I had a testing budget like that.” Some users expressed concerns such as “throwing away hundreds of bitcoins at once, is it still safe?” and worried about the livelihood of OKX’s technical team, “OKX’s technology is probably going to be compromised…200 BTC…”
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