The crypto community was puzzled back on Sept. 10, when a transaction moving around $2,000 in BTC paid $500,000 in fees.
to move around $2,000, while the average network fee was around $2. Various speculations were raised, with some believing that the transaction was done by copy-pasting data and accidentally pasting an output into the fee box without double-checking.
On Sept. 13, Paxos announced that it was their server that made the transfer. Following its claim, the company assured its users that their funds were safe and that the funds. The company also clarified that PayPal was not involved in the mistake and admitted that the error was its own.the amount to Paxos. The miner asked their X followers what they would do in his stead, and a majority voted to just distribute the money to other Bitcoin miners.
However, this advice doesn't appear to have been taken. Blockchain data shared by Bitcoin explorer Mempool
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Portals, The Protocol Aggregator Building ‘One-Click Defi,’ Secures $500k Seed ExtensionFollowing the tremendous success of their Seed Round in early 2023, Portals, the DeFi protocol aggregator simplifying Web3 by consolidating DeFi actions,
Read more »
Coal mine collapses in northern Turkey, killing 1 miner and injuring 3 othersOfficials say part of a coal mine has collapsed in northern Turkey, leaving one miner dead and injuring others.
Read more »
Paxos confirms it’s responsible for $500K mistaken Bitcoin transactionThe mistaken transaction was first discovered on Sept. 10 and was suspected to be a payment processor, but the company behind it was not known at the time.
Read more »
Crypto Miners Debate $500K Bitcoin Fee Refund to Paxos for 'Fat-Fingers' ErrorMiners can choose to return large fees out of goodwill, even though they do not have any obligation to do so.
Read more »
Bitcoin (BTC) May Drop Below $25,000 If This Scenario Plays Out: Prominent AnalystPopular crypto analyst shares his take on which direction Bitcoin price may head from here
Read more »
Top 3 Recent Price Predictions: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH)Bitcoin could reach almost $150K, XRP might blast to $500, whereas ETH could drop to $1K, according to the latest price predictions by experts.
Read more »