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Bitcoin News

AntPool Said To Refund $3 Million Bitcoin Transaction Fee

Bitcoin mining pool said to refund the overpaid BTC fee after the sender confirms ownership.

Written By:
Gopal Solanky

Last updated: February 12, 2024 4:53 AM
Published November 30, 2023 12:35 PM
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Last updated: February 12, 2024 4:53 AM
Published November 30, 2023 12:35 PM
AntPool Said To Refund $3 Million Bitcoin Transaction Fee

AntPool, the Bitcoin mining pool that mined the BTC transaction with $3 million fee last week, has agreed to refund the fee back to the sender.

The mining pool announced on Thursday that its risk control system froze the $3 million Bitcoin fee right after the transaction was processed on November 23. It has asked the transaction sender to contact them before December 10 and verify ownership to receive the fee back.

$3M Bitcoin Fee Refund Announcement
$3M Bitcoin Fee Refund Announcement – Antpool

AntPool has said to verify address ownership by using Bitcoin wallets such as Electrum or Bitcoin Core to sign a message referring to Antpool. Companies usually do this to find and verify the real owner of a blockchain address without revealing their identity in public.

The transaction was recorded as the most expensive Bitcoin fee paid in USD, which sought to transfer 55.77 BTC while it accidentally paid 83.65 BTC in fee.

It also comes to note that an anonymous user claimed to be the person behind this transaction and said that someone was running a script on the wallet, which caused the huge overpayment.

It was my BTC that paid the high fee.

I created a new cold wallet, transferred 139BTC to it and it got transferred out to another wallet immediately. 😵

I can only imagine that someone was running a script on that wallet and that the script had a weird fee calculation. ☹️

— Hackers_paid_83.5BTC_fee_with_my_money (@83_5BTC) November 24, 2023
Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky - Crypto Research Analyst at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Research Analyst and Reporter with over 5 years of experience in DeFi, blockchain, crypto, IT, and financial markets. With a Bachelor's in Computer Applications, he brings a strong technical foundation to his analysis and reporting. Gopal focuses on breaking down complex topics for both seasoned investors and curious readers. His work has been referenced by publications like Business Insider and Vulture.com, highlighting his contributions to industry stories around topics like Huwak Tuah Memecoin and the FTX collapse.

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