AntPool Offers Full Refund of 83 BTC Transaction Fee to Affected User

Cryptocurrency mining platform AntPool has announced its intention to refund the extraordinary transaction fee of 83 Bitcoin (BTC) to the affected user. The platform’s risk control system temporarily froze the fee during transaction packaging. To initiate the refund process, the user must verify their identity, and the deadline for submission is set for 00:00 (UTC+8) on December 10.

The affected user is required to submit their details to AntPool using a signing tool, either Electrum or Bitcoin Core. The user must utilize the private key of a wallet address provided by AntPool to sign the message with the code “AntPool.”

The incident occurred on November 23 when a user on the AntPool platform was charged a staggering transaction fee of 83 BTC, equivalent to approximately $3.1 million at the time, for transferring 139 BTC.

AntPool’s decision to refund the exorbitant fee follows a similar incident in September when stablecoin issuer Paxos paid a Bitcoin transaction fee of $500,000 to move $2,000 worth of BTC. In that case, the miner who received the fee initiated a public discussion on social media, ultimately deciding to return the funds to Paxos.

The deadline for the affected AntPool user to submit the required details and initiate the refund process is approaching rapidly. The incident once again highlights the importance of user verification and transaction security within the cryptocurrency ecosystem, as well as the potential risks associated with transaction fees in the crypto space.

As Bitcoin celebrated the 11th anniversary of its first halving on November 28, the cryptocurrency continues to demonstrate resilience and growth, with its current value hovering around $37,000.

By Habib Rahman

My professional background is in public relations and I am the founder of Cryptochating. My journey into blockchain technology started four years ago, and I haven't looked back since then. The future of decentralized technology is incredibly fascinating to me, and I am passionate about communicating how it will change the world.

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