My transaction failed due to running out of gas. Can I recoup this money?

I was trying to send to Monaco card via my token wallet. Below is the transaction id. For some reason, it charged me £159 for sending £99 dollars. Could someone please help me out, as i am clueless as to what to do.

https://etherscan.io/tx/0xda8c0b80d8e240a83c8f6b067c4656babeb13e8e0ece4fd4292aa06252f1285c

That transaction had a very high gas price specified (0.000025 Ether, 25,000 GWei), while currently transactions are getting confirmed for much lower (0.000000002 Ether, 2 GWei). And the transaction only specified a max of 25,000 gas units, which is pretty low. So, your transaction burned up the maximum amount (25,000 * 0.000025 = 0.625 Ether), and still failed, unfortunately.

Those funds are gone, unfortunately. Whatever client you were using should have calculated the amount of gas units needed more accurately, and should have let you set the price per gas unit much, much lower than that. Send that transaction to the support team of the wallet you were using to send it, as that is likely a bug they should fix in their code, so others don't encounter it too.

  • 1
    This answer seems to imply that the 'out of gas' was in some way the result of the gas price specified. This is not correct. gasPrice has nothing to do with how much gas is used. Think of it this way: if you pay $1,000 a gallon for a gallon of gas you can still travel 25 miles. Same as if you paid $1 for a gallon. Gas gets consumed by the gallon. Price has nothing to do with it. The reason the transaction failed is because it didn't have enough gas. The reason it cost so much is because you paid too much per gas. – Thomas Jay Rush Jun 9 '17 at 3:28
  • Yes, there are two problems that combined in this transaction to make it a problem. Your last two sentences are a great summary of the two issues! – MidnightLightning Jun 9 '17 at 3:30

I'm sorry, but no, when the gas limit is hit the transaction is cancelled and you lose the entire gas amount as the transaction fee, ~$161 in your case. This sucks, but is an important behavioral incentive in the network.

You can see your details here:

https://etherscan.io/tx/0xda8c0b80d8e240a83c8f6b067c4656babeb13e8e0ece4fd4292aa06252f1285c

  • I've been trying to understand ridiculously high gas costs or rather how my Ethereum Wallet sets them, and more importantly how new users can avoid accidentally getting gouged. I've seen ranges for simple transactions cost between .5 Ether and 2 Ether and my client doesn't allow changing the cost to anything reasonable. I can see new users easily falling victim to such high costs. Finding this post just supports my concerns that it is possible to pay way too much for a simple transfer. Can you clarify what you mean by "behavioral incentive"? It sounds like this is bad, but by design. – user11495 Dec 2 '17 at 4:33

Yes a costly mistake, but I bet I won't do it again. I got burned on 7 contracts before I learned. Chalk it up to a loss and make another contract while it's cheap, because I don't know about you but I plan to help take ethereum past bitcoin

  • That's the spirit ! – Cristian Sep 17 at 0:47

No, unfortunately. I recommend you one thing: For testing purposes, visit remix.ethereum.org In the "Run" panel make sure you select JavaScript VM Every time you run a transaction, you'll be able to see an estimated gas cost by inspecting the contract information created in the console.

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