The post Foundry USA Pool Refunds $777,000 Bitcoin Transaction Fee Due to Accidental Overpayment appeared on BitcoinEthereumNews.com.

COINOTAG News reports that on December 29, Foundry USA Pool, a prominent Bitcoin mining pool, successfully refunded an erroneously excessive transaction fee amounting to approximately $777,000 (8.18 BTC). This incident occurred following the mining of Bitcoin block 875475 on December 19, where a sender unintentionally attached a fee that was an astonishing 91,127 times higher than the standard rate. In a public statement on social media, Foundry USA Pool confirmed that they reached out to the sender, who had “accidentally” set the transaction fee. After thorough deliberation, the pool decided to reverse the fee back to the sender, as retaining it would have resulted in a distribution to clients based on their hash power contributions within the foundry. This notable refund is not an isolated incident; Antpool previously returned an exorbitant transaction fee of 83.6 BTC worth around $3.1 million in November 2023, showcasing the prudent measures some mining pools are taking against unnecessary financial windfalls. Source: https://en.coinotag.com/breakingnews/foundry-usa-pool-refunds-777000-bitcoin-transaction-fee-due-to-accidental-overpayment/

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Filed under: News - @ December 29, 2024 8:16 am