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Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: SRShanuka2020 on June 15, 2020, 06:13:31 AM

Title: Blackmail is Behind Multi-Million ETH Transfer Fees, Say Researchers
Post by: SRShanuka2020 on June 15, 2020, 06:13:31 AM
Blackmail is Behind Multi-Million ETH Transfer Fees, Say Researchers


(https://i.imgur.com/QEjyyZU.png)


Over the past week, the crypto community has been left befuddled by three small Ether (ETH) transfers that incurred millions of dollars in fees.

However, new reports have given weight to speculation that the seven-figure fees may have been deliberately spent as part of a blackmail scheme targeting a cryptocurrency exchange, with Chinese blockchain analysis firm PeckShield concluding that the transactions were likely resulting from extortion attempts.

Visit For More info: Here (https://cointelegraph.com/news/blackmail-is-behind-multi-million-eth-transfer-fees-say-researchers)
Title: Re: Blackmail is Behind Multi-Million ETH Transfer Fees, Say Researchers
Post by: buublebee on June 15, 2020, 12:21:43 PM
I wondered how this huge fees can be possible, when fee bigger than transfer amount. And how did users send tgis, they didn't see that fee so high?
Title: Re: Blackmail is Behind Multi-Million ETH Transfer Fees, Say Researchers
Post by: damsix on June 17, 2020, 08:21:14 AM
Extortion to centralized exchange can occur because the world is full of fraud, including in the world of cryptocurrency which is always a fraud scheme.
In this case the fraud was directed to a centralized exchange and I have a strange question for this case.

1. Why must the transaction with such a large fee be confirmed?
2. Is the centralized exchange not careful of transactions with large fees?
Title: Re: Blackmail is Behind Multi-Million ETH Transfer Fees, Say Researchers
Post by: TomPluz on June 21, 2020, 09:20:28 AM
Many people especially those in the world of cryptocurrency are wondering how and why did those famous transactions costing huge amount of fees in the Ethereum took place. Maybe soon we can be seeing the truth behind those transactions. Extortion can be a good reason why.