You may have noticed something recently, transactions on the Ethereum network have been oddly expensive. MyCrypto has chalked up this suspicious rise in transaction fees to a good-for-nothing exchange, essentially incentivizing its users to push out thousands of transactions onto the Ethereum network.

So-Called Gas Guzzlers Fill The Ethereum Network

Over the past few days, Ethereum has been seeing an abnormal increase in the cost of transactions. According to Etherscan, miners have been collecting an average of ten times more fees over the past 5 days in comparison with days of ‘normal’ network activity.

Gas prices, which normally sit at around 5 Gwei, rose as high as 50 Gwei as users of the Ethereum network desperately tried to bring their transactions to the front of the pending transactions line. As a result, the average Ethereum transaction fee quickly rose from $0.2 to $3.5 within a matter of a short 48 hours, according to Bitinfo.

This abnormal increase came seemingly out of nowhere, with many users seeming confused about the source of these rising fees. As users began to investigate this unprecedented rise in fees, they began to realize that there was an abnormal influx of Erc-2o tokens being transferred to a relatively unknown exchange called FCoin. MyCrypto, founded by the creator of a similarly named wallet service, MyEtherWallet, took to Twitter to criticize the business practices of the aforementioned exchange.

The eight-part Twitter ‘rant’, ripped apart the practices which FCoin was enlisting. MyCrypto wrote: