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A clumsy trader claims to have “destroyed” his life after inadvertently paying $ 9,500 in commission for a $ 120 transaction on decentralized exchange Uniswap (DEX).
On November 5th, the Reddit user “ProudBitcoiner” posted that I had accidentally paid 23.5172 Ether (ETH) for a single trade after confusing the “Gas Limit” and “Gas Price” entry boxes in the MetaMask wallet.
“Metamask did not fill in the” Gas Limit “field with the correct amount in the previous transaction and that transaction failed, so I decided to manually change it in the next transaction […] but instead of writing 200,000 in the “Gas Limit” input field, I wrote it into the “Gas Price” input field, so I paid 200,000 GWEI for this transaction and destroyed my life.
Uniswap is an unsecured ERC-20 token exchange, which means that transactions are executed directly from the user’s wallet, allowing them to manually set the gas prices they are willing to pay for a transaction.
The user noticed that he recently downloaded MetaMask version 8.1.2 and had no problems with the population of the Gas Limit field.
rewarder and L. “Mcgillby” suggested that MetaMask introduces safeguards that oblige users to confirm a transaction when the price of the injected gas significantly exceeds the estimated price calculated by the wallet:
“I think they might issue a warning like” You are exceeding the amount needed to be included in the next block by a significant amount “and have you confirm. Metamask already calculates the recommended gas price automatically, so I see no reason why they can’t have further confirmation if someone exceeds the recommended gas price by a large margin. “
In June, Cointelegraph reported on two mystery transactions in which each spent $ 2.6 million in fees to transfer approximately $ 130 into Ether.. Analysts offered various explanations for the transactions, including a potential bug in a money laundering bot, revenge against a former employee, or simple human error.
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