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Paxos receives over $500k refund from miner due to BTC transaction fee overpayment

Paxos receives over $500k refund from miner due to BTC transaction fee overpayment

– The Bitcoin miner who received 19.8 BTC in fees has returned the funds to blockchain infrastructure firm Paxos.

– Paxos claimed that they made a mistake by paying over $500,000 in BTC transfer fees.

– The transaction on Sept. 10 raised speculations, with some believing it was a copy-pasting error.

– Paxos confirmed that it was their server that made the transfer and assured users that their funds were safe.

– The Bitcoin miner expressed frustrations but ultimately agreed to refund the amount to Paxos.

– Bitcoin explorer Mempool confirmed that the funds were returned on Sept. 15.

– Similar fee mistakes have happened before, with an Ethereum user losing almost $400,000 in Ether in 2019.

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