Ethereum User Who Accidentally Paid $365,000 Fee Splits Loss With Mining Pool Sparkpool

March 12, 2019
72 Views

The agreement came following communication between the sender and Sparkpool regarding three transactions.

Ethereum (ETH) mining pool Sparkpool confirmed it had come to an arrangement with a user who accidentally sent it over $300,000 in mining fees on March 11.

The mix-up, which occurred on Feb. 19, involved an Ethereum user apparently confusing the fields required to send an ETH transaction.

Three transactions broadcast to the Ethereum network with a combined total mining fee of 2,730 ETH (currently worth about $365,800).

While the circumstances behind the event remain unknown, Sparkpool subsequently agreed to refund half of the the 2,100 ETH mining fee, which represented the largest of the three transaction fees.

The refund amount came from a suggestion by the sender, who wished to thank the pool’s developers for assistance in recovering the funds.

“Thank you SparkPool and your miners for helping us to recover our loss, we are willing to share half of 2100 ETH with the miners to thanks the miners’ integrity,” the sender wrote in a transaction to Sparkpool verifying their wallet identity.

Issuing the refund of 1,050 ETH, Sparkpool responded in Chinese and English, the latter message reading: “Thanks for your understanding and generosity. – SparkPool.”

The nature of many public blockchains means that transactions sent with errors cannot be altered after a sender confirms that they wish to execute them.

Others, such as EOS, contain a feature whereby certain parties can reverse transactions, something which has led to criticism from community sources.

As Cointelegraph reported, EOS saw a transaction fluke of its own this week after a user succeeded in broadcasting to the network a single payment of one trillion EOS tokens — several times more than the available supply.

You may be interested

Crypto and Forex Scam Reports Tripled in the UK Last Year, Watchdog Says
Crime
26 views
Crime
26 views

Crypto and Forex Scam Reports Tripled in the UK Last Year, Watchdog Says

btcethereumadmin - May 21, 2019

Reports of cryptocurrency and foreign exchange scams in the U.K. grew threefold in the last financial year – spiking to…

NYSE Arca Seeks Rule Change to List ETF Backed by Bitcoin and T-Bills
Crypto News
45 views
Crypto News
45 views

NYSE Arca Seeks Rule Change to List ETF Backed by Bitcoin and T-Bills

btcethereumadmin - May 21, 2019

NYSE Arca has formally applied to the Securities and Exchange Commission (SEC) for a rule change that would allow it…

Bitcoin Price Analysis: Strong Selling With Weekly Level Getting Tested
Bitcoin
51 views
Bitcoin
51 views

Bitcoin Price Analysis: Strong Selling With Weekly Level Getting Tested

btcethereumadmin - May 21, 2019

Summary: The market is seeing a current rejection of the weekly level outlined in 2018’s bull market. The zone between…

Leave a Comment

Your email address will not be published.