Warning - sending ETH to Bittrex is a smart contract invocation. Details inside.
Hello fellow ethtraders. Did I tell you I love you all?
So here's what I found after a friend asked for help:
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When you ask for deposit address in Bittrex, what happens behind the scenes is that a new instance of smart contract is created just for you. Here are the creation events: https://etherscan.io/txs?a=0x6cace0528324a8afc2b157ceba3cdd2a27c4e21f
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When an unsuspecting user tries to transfer funds, the usual 21k gas limit is not enough and the transaction fails, consuming gas in process. OUCH!
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Looking at the list of contracts above (go to contract address via internal transactions), you can see it happens to oh-so-many people. I wonder how much customer support pressure it generates for Bittrex?
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I see transactions succeeding with around 22k: https://etherscan.io/tx/0xd89ef9721c0f1885cd115049d945b37b46114590f2adaaee2604cec8046dee99 https://etherscan.io/tx/0xc0cf52b96fd7f709415a3a931a3f6f13e974c21f2f21518a9417b557f4a7a4fa https://etherscan.io/tx/0xefc9ab9f957ae01b47d75672c16c49fa0a54ebc20e804776b3c5281711dc50df (all found randomly on the above list).
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I'm also seeing Bitfinex sometimes initiating "sweep" transactions on unfunded addresses: https://etherscan.io/tx/0x3a30fdf7146a8d09ca42c5de74a2ae37894f4373453243632af0ca38376d2df9 Thats 47k gas at 33 gwei gas price! Hey Bittrex, WTF are you doing, how much money is it wasting you?
tl/dr: increase gas limit to 50k when depositing to Bittrex. Bittrex, fix your shit.
Posted Aug 17, 2017, 6:48 PM UTC
Well, if you read the instructions on their deposit page they cleary state to set the gas limit to 36000. Also, the deposits are available after 12 condirmations, so whithin 4 min. Way better than any other exchange.
O I was talking about bitstamp. Dont know if Bittrex instructions are also that clear. However, I see the advantages of using smart contracts :)