The entity that paid a $510k fee for a Bitcoin transaction has been revealed to be PayPal themselves.

Just a few days we had the very funny and meanwhile also sad news of a Bitcoin transaction by some unknown entity taking a $510k fee, that was a massive 479867 times the overpayment of the usual fee, the only plausible reason for this actually was that some fat finger was in the cause, but still it was unknown who did it.

While most arguably expected that to just be some random person that made an error, it is now even more funnier that it was a billion-dollar payment processor company, PayPal themselves who made this massive error.

Here is the analysis by mononautical on Twitter:

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https://preview.redd.it/1qepe91du1ob1.jpg?893&format=pjpg&auto=webp&s=ad3ab9cd727e2416263a71efe14e5d19f402603d

Once again thanks to mononaut for making this amazing on-chain analysis

Furthermore there have been speculations that this may just have been a software bug by the person who wrote that code at PayPal, will be a rough day for that person.

This also just happens to show how even the biggest companies that are now entering, clearly lack the experience and expertise that we have gathered by now, at least somewhere we stand above them.

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Advice by mononaut to PayPal