Ether Mining Pool Bitfly Decides to Distribute Record $2.6 Million Transaction Fee

Bitfly aka Etherchain the Ether mining pool that received the second abnormal Ethereum transaction fee of 10,000 ETH ($2.6 Million) last week has announced on their official twitter account that the fee will be distributed among miners in their mining pool after four days of no one producing a valid signature of the sending account.

On the 11th of June Bitfly tweeted that they mined a transaction with a 10,000 ETH ($2.6 Million) fee and they believed that transaction was an accident. They asked the sender to contact them via DM or through their support portal within four days in order to claim the funds so it can be refunded. Bitfly further revealed that multiple people contacted them and claimed to be the sender of the transaction, but none of them was able to produce a valid signature of the sending account. Based on no one being able to produce a valid signature of the sending account within the four days period starting on 11th June. As at today 15th June Bitfly has decided to distribute the $2.6 Million Ether transaction fee to all miners in its mining pool that participated in mining the block, based off a snapshot that was taken at the time of the transaction.


See Also: Sparkpool’s $2.6 Million ETH Miner Fee, A Costly Mistake?

Bitfly’s decision to distribute the $2.6 Million ETH transaction fee which is the second highest transaction fee for a cryptocurrency transaction to miners in its pool that mined the block has come with strong criticism from the cryptocurrency community as core Ethereum developers like Vlad Zamfir and Péter Szilágyi criticized the four-days grace period to claim the funds by the sender as being too short.

Péter Szilágyi said:

“I’d honestly wait a month or two if you’re serious about giving it back.”