This crypto exchange mistakenly transferred Tether cryptocurrency worth Rs 178 crore


Hong Kong-based cryptocurrency exchange, Bitfinex has recovered over $22 million (about Rs 163 crore) worth of Tether cryptocurrency that was accidentally spent. Earlier this week, Bitfinex mistakenly paid $24 million (about Rs 178 crore) as fees while sending $100,000 (Rs 74.2 lakh) of Ether. Whereas, the actual fee was only $33 (approximately Rs 2,449). This big payment was done through Bitfinex’s mail wallet.

“On September 27, a deposit transaction was performed using a hardware wallet from the main DeversiFi user interface,” news portal TheBlockCrypto quoted a DeversiFi spokesperson as saying.

This large Tether transaction was transferred to an unknown high-ranking Ethereum miner, who returned the amount.

While the exact cause of this error is unknown, DeversiFi has claimed that it has started an investigation.

It is also unclear what will happen to the balance over $2 million (approximately Rs 15 crore) that has still not been returned to Bitfinex’s cryptocurrency wallet.

Meanwhile, as reported by Business Insider, the Ethereum trading price has seen an increase following the heavy use of this blockchain network.