It's OKX exchange screwing up a consolidation: 

Basically they're trying to outbid themselves, without taking into account whether the txs are even economical. Probably an automated system that went haywire.

mempool

What’s causing the spike in fees right now - approx 211 sat/vB

cristaiji

It's OKX exchange screwing up a consolidation: https://stacker.news/items/565460

Basically they're trying to outbid themselves, without taking into account whether the txs are even economical. Probably an automated system that went haywire.