Bitcoin user’s costly error leads to record transaction fee of $510,000

According to on-chain data, a Bitcoin user spent a staggering 19 BTC, around $510,000, in transaction fees for transferring a mere 0.074 BTC, valued at less than $2,000, on Sept. 10.

The average transaction fee on the blockchain network was $2.176 as of press time, per data from ycharts.com. This means the user overpaid more than 480,000 times for the transaction, making the fee the highest ever recorded on the Bitcoin network.