2023-09-14 16:02:46
A few days ago, we were able to write about the interesting bitcoin transaction, when someone paid more than 500,000 dollars for the processing of a single bitcoin transaction worth less than 2,000 dollars. At the time, we wrote about the fact that it was impossible to know anything about who was behind the error. But now we know that the crypto service provider Paxos was the culprit, allegedly due to an IT error they paid such a large transaction fee. The transaction was received by the mining company Stake.fish. The founder of Stake.fish was very upset with Paxos’ attitude. The company’s founder, Chun Wang, later posted on X that whoever is behind the transaction should report within three days and then he will probably get his reward back. The fee is the amount the user pays the miners to register their transactions on the blockchain. The more a user pays, the more likely they are to process their transaction as quickly as possible. Paxos also operates a crypto exchange and its own USDP stablecoin and is considered one of the best-known players in the entire sector. In an e-mail circular, the company informed the media that it was an IT error that caused such a large transaction fee to be paid. In general, fees between 5 and 20 dollars are used on the network. Paxos also applied to Stake.fish for a refund, but according to Chun Wang, they fell slightly short of the three-day deadline. In one post, Wang wrote that he would return the BTC, but otherwise he would not, because Paxos kept referring to the EST time zone, while the deadline was given by the mining company in UTC. The case is therefore still without a conclusion. But it is interesting that a significant number of X users would not return the fee to Paxos one by one. According to 37% of those who voted for X, the amount should be distributed among the miners.
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