A recent event has raised questions in the cryptocurrency community after the transaction tracking service Whale Alert reported incorrect information regarding a large sum in Cardano (ADA).
Incident Details
According to Whale Alert, someone executed a transaction totaling $3.7 million ADA. However, many users pointed out that the actual fee was just 1.6 ADA (0.83).
Expert Opinions
SecurityBot founder Josh Marchand noted that Whale Alert is posting "completely false" information. According to him, the service incorrectly calculated the fee based on the difference between input and output values, which is clearly wrong. "Please consider consulting with an expert from the Cardano community to make sure your integration is complete and bug-free," he added.
Official Whale Alert Response
In a recent post, Whale Alert clarified that the amount was incorrectly marked as a "burn fee". The error happened due to limited data provided by the Cardano node. "We have disabled fee burns for Cardano to prevent this from happening again," the popular wallet tracking service added.
Incorrect interpretation of transactions can lead to serious consequences for the reputation of cryptocurrency projects. It is essential for all market participants to strive for accuracy and transparency in their work.
