On December 19, 2024, a significant error occurred when a wallet identified as 'bc1qdf' transferred 0.142 BTC, incurring an astonishing transaction fee of 83.65 BTC, equivalent to approximately $3.1 million.

This unusual fee was brought to light by Whale Alert, generating considerable discussion within the cryptocurrency community.

At the time of the transaction, the sending wallet had a remaining balance of only 0.042 BTC, or about $4,067, and the excessive fee had not yet been refunded.

The transaction was processed by Foundry Services USA and confirmed at block height 875475.

This incident marks the largest transaction fee recorded on the Bitcoin network, surpassing a previous notable fee of 19.82 BTC paid by Paxos in September 2023 to transfer just 0.074 BTC.

The Paxos transaction, which overpaid by an extraordinary 234,834 times the average fee, remains the second highest in Bitcoin history.

The staggering fee has raised skepticism regarding Bitcoin's viability as a transaction medium, with some users questioning its future role in finance.