Miner Frustrated After Returning $500k in Accidentally Received Bitcoin Fees

Miner received over $500k in excess BTC fees from Paxos transaction
Paxos admitted error was theirs, funds belonged to company
Miner expressed frustration about having to return funds
Blockchain data confirmed miner returned 19.8 BTC on Sept. 15
Similar mistakes have led to loss of funds before, like $400k in ETH in 2019

cointelegraph.com

Relevant topic timeline:

9/13/2023

Paxos Confirms $510K BTC Fee was Bug, Says Miner Talks Ongoing to Recoup Overpayment

Crypto infrastructure provider Paxos has admitted to overpaying a $510,000 fee on a Bitcoin transaction due to a bug, but assured that it only affected their corporate operations and not their clients or customer funds.

9/13/2023

Paxos Confirms $500K Bitcoin Overpayment Was Internal Error, Not PayPal's

Paxos, a stablecoin issuer, revealed that it was the account that overpaid $500,000 in fees for a Bitcoin transfer, dispelling speculation that PayPal was responsible, and stating that all user funds are secure.

9/14/2023

Crypto Miner Debates Keeping Accidental $500K Bitcoin Windfall

Bitcoin miner Chun, who received 20 BTC in error from Paxos, is reconsidering returning the funds due to annoyance with the person claiming it and has sought advice from the crypto community.

9/15/2023

Bitcoin Mining Pool Refunds $520,000 Transaction Fee for $2,000 Transfer After Community Discussion

Bitcoin mining pool F2Pool has returned 19.8 bitcoin (BTC) to Paxos after a $520,000 fee was paid on a $2,000 transaction due to a "bug," with the refund being praised as a cooperative and humane decision by the bitcoin community.

9/16/2023

Paxos Paid $500K in Fees to Move $2K in Bitcoin; Gemini Earn Users May Recover Funds

Paxos returns $500,000 bitcoin fee, FTX digital assets approved for sale, and Gemini proposes a recovery plan for Genesis Global creditors.

Topics

Posted 9/15/2023, 10:25:47 AM

Miner Frustrated After Returning $500k in Accidentally Received Bitcoin Fees

Miner received over $500k in excess BTC fees from Paxos transaction
Paxos admitted error was theirs, funds belonged to company
Miner expressed frustration about having to return funds
Blockchain data confirmed miner returned 19.8 BTC on Sept. 15
Similar mistakes have led to loss of funds before, like $400k in ETH in 2019

cointelegraph.com

Relevant topic timeline:

9/13/2023

Paxos Confirms $510K BTC Fee was Bug, Says Miner Talks Ongoing to Recoup Overpayment

9/13/2023

Paxos Confirms $500K Bitcoin Overpayment Was Internal Error, Not PayPal's

9/14/2023

Crypto Miner Debates Keeping Accidental $500K Bitcoin Windfall

Bitcoin miner Chun, who received 20 BTC in error from Paxos, is reconsidering returning the funds due to annoyance with the person claiming it and has sought advice from the crypto community.

9/15/2023

Bitcoin Mining Pool Refunds $520,000 Transaction Fee for $2,000 Transfer After Community Discussion

9/16/2023

Paxos Paid $500K in Fees to Move $2K in Bitcoin; Gemini Earn Users May Recover Funds

Paxos returns $500,000 bitcoin fee, FTX digital assets approved for sale, and Gemini proposes a recovery plan for Genesis Global creditors.