Bitfly And Sparkpool To GiveAway $5 Million Transaction Fees To The Miners

  • Bitfly and Sparkpool have decided to distribute the transaction fees to miners after many phony refund claims.
  • Recently, on June 11, a miner, a unit of Bitfly had to pay a transaction fee of 10668 Ethers.
  • On the other hand, a similar unusual fee of 10,668 Ether or 2.6 million USD was charged for a transaction of 0.55 Ether or approximately 133.95 US Dollars by the Chinese mining pool, Sparkpool.

Bitfly and Sparkpool have decided to distribute the transaction fees of two mysterious ethereum transactions after many phony refund claims. A very high and unusual fee was charged for two different transactions from both the mining pools.

Bitfly Rewards Miners With Transaction Fees

Recently, on June 11, a miner, a unit of Bitfly had to pay a transaction fee of 10668 Ethers. It is approximately worth 2,503,311.24 US Dollars for transfer of only 350 Ether which equals 82,124.00 US dollars. However, Bitfly has seemed to lose its patience and decided to give away the transaction fees to the miners as a reward for processing transactions. Bitfly had frozen the payment for four days now.

In a recent tweet by Bitfly, It has declared that since the sender of the transaction has not bothered to contact them, they have made the final decision of distributing the transaction fees to the miners of their pools.

They have also added that considering this big amount, four days is enough for the sender to act and get in touch with them. There were many protests on twitter regarding this. People said that four days was too short period and that they must give at least a month for the legit sender to claim the ownership. To this, Bitfly replied instantly saying that they are a mining pool and not an ETH arbiter. Hence, in order to avoid any such discussions in the future, they will close the case by giving away the fees.

Similar Situation Faced By Sparkpool

Consequently, it has given rise to many pretenders who stepped forward to claim the
money and the ownership of the transaction. However, none of them matched the
criteria. They didn’t have any valid signature of the sending account.

On the other hand, a similar unusual fee of 10,668 Ether or 2.6 million USD was charged for a transaction of 0.55 Ether or approximately 133.95 US Dollars by the Chinese mining pool, Sparkpool. The amount was sent to an address on Bithumb, a South Korean cryptocurrency exchange. Since this isn’t new to Sparkpool, they consequently froze the account and gave a grace period for the sender to reach out and claim a part of the transaction.

However, this hasn’t happened, so Sparkpool also decided to give away 2.6 million dollars of the transaction fees to the Ethereum miners working on that day. It was based on the snapshot of the hash rate that will be taken tomorrow at 7:30 UTC.

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