On June 8, the founder of mempool @mononautical posted on social media that OKX's collection of all confirmed and pending wallets from block 846867 generated a total of 2385 transactions, spending 357092 inputs, with an average rate of 246.65 sat/vb and a total cost of 254.28 BTC (about $17.60 million). Mononautical said that this appears to be caused by a poorly executed automated system that caused its own transaction bidding and fees to get out of control. Previously, it was reported that the Bitcoin network transaction fee soared to 520 sat/vb last night, and a single block consumed more than 5 bitcoins in network fees. The community questioned the need to organize the wallet for OKX, which caused the OKX official reply: Thanks for the reminder, the team is testing a collection program and has stopped.