February 29, 2024 6:51 pm

AntPool offers to refund affected user the 83-BTC transaction fee


URGENT: JUST 11 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, TO ENSURE WE ARE FULLY FUNDED FOR NEXT MONTH,SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

The cryptocurrency mining platform AntPool released an update on Nov. 30, saying it will refund the transaction fee of 83 Bitcoin (BTC).

It said its risk control system temporarily froze the fee when packaging the transaction, and therefore, after the affected user verifies their identity, it will refund the fee.

The affected user has until 00:00 (UTC+8) on Dec. 10 to submit their details to AntPool via preparing a signing tool, either Electrum or Bitcoin Core, and then using a private key of a wallet address given by AntPool sign the message with the code “AntPool.”

On Nov. 23, one Bitcoin user on the platform was charged a transaction fee of 83 BTC, which at the time equaled roughly $3.1 million, for a transfer of 139 BTC.

Related: Bitcoin ETF race gets 13th entrant, BlackRock revises ETF model

A similar situation took place in September when the stablecoin issuer Paxos confirmed it paid a Bitcoin transaction fee with a value of $500,000. The outrageous fee was charged to move $2,000 worth of BTC.

The Bitcoin miner who received the fee took to social media and petitioned followers what they would do in their place, with the majority voting to distribute the funds among the Bitcoin miner community. Ultimately, the miner returned the funds to Paxos.

This week, on Nov. 28, Bitcoin celebrated the 11th anniversary of its first halving, from $12 to its current range hovering around $37,000.

Magazine: This is your brain on crypto: Substance abuse grows among crypto traders