Stablecoin

Refund

Bitcoin

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 <p>Bitcoin mining group AntPool announced Monday it will issue a refund of over $3 million accidentally paid in transaction fees last week—the largest on record—but only once additional proof surfaces to confirm the rightful owner.</p>
 <p>In a statement, AntPool advised the entity behind the exorbitant 83.65 BTC fee worth $3.1 million at current prices to contact the mining pool by December 10th. Follow-up identity verification would set the stage for repayment of the errant funds.</p>
 <p>The abnormal payment occurred on November 23rd as part of a transaction initially transferring 139 BTC, later dwarfed by associated costs. AntPool at the time withheld dispersal pending an internal risk review of the conspicuous sum.</p>
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 <p><strong>Also read: Paxos Secures Approvals for Stablecoin Issuance in Abu Dhabi</strong></p>
 <h2 class="wp-block-heading" id="h-observers-speculated-whether-it-was-a-bitcoin-coding-mishap">Observers speculated whether it was a Bitcoin coding mishap</h2>
 <p>Observers speculated whether the event reflected a coding mishap, unauthorized wallet access leading to theft, or even a sophisticated hacking attempt to seize control of the account. But AntPool remained noncommittal in its handling of the fees until this week’s pledged reimbursement was dependent on validating real ownership.</p>
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 <p>Crypto infrastructure provider Paxos similarly overpaid a $500,000 mining fee this September, aided by a likely slip of the finger on a touchscreen device. Competing mining group F2Pool in that case agreed to send the funds back to Paxos upon request.</p>
 <p>In fact, Paxos publicly thanked F2Pool for exhibiting responsiveness and understanding that normal users occasionally input erroneous amounts. The largely positive reaction stood in contrast to suspicions around AntPool’s more opaque response.</p>
 <p>Still, the unprecedented magnitude of last week’s $3 million transaction fee makes the situation less straightforward, given the financial interests at play. Establishing legitimacy takes priority before disbursing such a vast sum.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/antpool-agrees-to-refund-whopping-3m-bitcoin-fee-tbt72202.html">https://thebittimes.com/antpool-agrees-to-refund-whopping-3m-bitcoin-fee-tbt72202.html</a></p>

AntPool Agrees to Refund Whopping $3M Bitcoin Fee

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TheBitTimes

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