Another Ethereum (ETH) Mining Pool Disperses Monstrous $2.5M Fee

News
Tue, 06/16/2020 - 12:39
Vladislav Sopov
Following the announcement of Bitfly's Ethermine pool to finally pay out an eight-digit fee to Ethereum (ETH) miners, Sparkpool has made a similar decision
Cover image via stock.adobe.com
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Launched in 2016, Sparkpool is one of the first and most respected Ethereum (ETH) mining pools. It is among the pools that have been lucky enough to add blocks with recent erroneous transactions to the Ethereum (ETH) main chain.

Last day for reaching out

According to the official statement from the Sparkpool team, the decision on the fate of a $2.5M transaction fee has been made. They will disperse it between the Ethereum (ETH) miners who contributed to Block 10237208.

Image via Twitter

But this dissemination will be initiated seven days after this mysterious transaction was mined, or on June 17th at 15:30 (GMT+8). The Sparkpool team highlights that this decision reflects the responsibility of Sparkpool for both miners and the transaction sender.

So, a few hours are left for the sender of this unusual transaction to contact Sparkpool officers. The sender must provide a valid signature of the account transacted.

As covered by U.Today, Sparkpool received a whopping $2.5M fee to send the insignificant amount of $133.

Second in a row

Yesterday, the Austria-based Bitfly development studio that operates the Ethermine mining pool decided to send $2.4M in fees to miners after a four-day pause.

Bitfly representatives explained that numerous people reached out to them to redeem this gargantuan fee, but all of them failed to demonstrate the signature of the sending account.

The team treated the extensive media coverage of this accident as a sufficiently helpful measure in notifying the sender of the need to contact the miners within four days.

A third abnormal transaction ($539,000 in fees for $751,545 transferred) is now under investigation.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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