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


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

User thanks Ethereum mining pool for “integrity” after refund agreement for huge accidental fees

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.

Threetransactionsbroadcast 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.

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