Mining Pool Receives $139,000 as Reward for Returning Accidentally Sent Ethereum

Finally, why $300,000 was paid as transaction fee for sending just $14 worth of Ethereum has been revealed. The transaction which occurred on February 19 got the attention of cryptocurrency investors and websites since it was one of a kind. Nonetheless, Sparkpool, an Ethereum mining pool which received the mining reward has come forward to state why it was so, reports Coindesk on March 11.

Sparkpool Was the Recipient of 2,100 Ethereum

Based on the report, Sparkpool was the recipient of the 2,100 Ethereum (over $300,00) which an anonymous user sent as a transaction fee for transferring 0.1 Ether (valued at $14.71 at that time). The user had also made several transfers where the fee was extremely high for sending a very small amount of Ether.
According to Sparkpool, the sender had contacted them via Email on February 25 to say it was sent in error. The mining pool’s response was for the sender to make another transaction of 0.022517 ETH ($2.99) from the same Ethereum address to the pool’s address.
A few hours later, the requested amount was sent which can be traced on Etherscan, Ethereum’s blockchain blockexplorer. Sparkpool revealed that the sender is from a blockchain firm in South Korea and they had come to an agreement which will allow for the funds to be resent.

Sender’s Gratitude to Sparkpool

Another transaction on Etherscan shows that the user sent 0.666 ETH to Sparkpool with the message, “Thank you Sparkpool and your miners for helping us to recover our loss, we are willing to share half of 2,100 ETH with the miners to thanks the miners’ integrity.” It can be assumed that splitting the funds is the terms the user had to agree to in order to get back the money.
In line with that, Sparkpool who had earlier frozen the funds, resent 1,050 ETH to the anonymous sender. Based on the current market value of Ethereum, that amount of coins is valued at about $139,000. It is also remarkable that such an amount was sent as a reward for the company’s honesty.

Honesty Even in the Face of Crime in the Crypto Community

Given the level of crime in the industry in terms of phishing attacks, exchange hack, SIM swap, malware mining, and several others, it is worthy to note that there are still honest cryptocurrency enthusiasts out there. A Twitter user, Hodlonaut began the Bitcoin Lightning torch trend on January 19 to show the integrity of the community.
Here, the user sent 100,000 satoshis (about $3.88) using Bitcoin’s lightning network to a random person. The recipient was also asked to add 10,000 sats ($0.38) to what was received before sending to another person. So far, the torch has passed through the hands of people in over 43 countries. But then, it wasn’t without glitches given that one of the holders of the torch had seized it for a while.

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTETFNewsxbtusd

Bitcoin May Never Go Below $50k Once An ETF Is Approved, Declares On-Chain Analyst

Bitcoin may never drop below $50k asserts on-chain analyst Ki-Young Ju. But as usual, there are conditions that follow this possibility. In a tweet, Ju analyzed that Bitcoin could follow the same path that gold took in 2004 when the first…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin. Brady who has a massive Twitter following of 1.9 million…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Almost $200 Billion Worth Of Bitcoin Is Currently At Risk – Report Warns

A recently published 2021 crypto report by Opimas LLC, a finance-based management consultancy firm, has revealed that approximately 3,480,000 out of the world’s mined 18.5 million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping. The 36-page report…