Someone sent a lot of digital money to an empty place where they can't use it anymore. This made the amount of that digital money go down and its value go up because there is less of it available. This happened because of a big change in how this digital money system works. Now, when people pay for things with this digital money, some of it disappears forever instead of going back to the people who helped make the system work. Read from source...

- The title is misleading and sensationalist. It implies that someone intentionally burned a large amount of Ether, when in fact it was the result of a normal transaction fee mechanism implemented by Ethereum itself. A more accurate title would be "EIP-1159 Fee Mechanism Leads to Over $56M Worth of Ether Burned".