June 19, 2020

The Commission In $500,000: F2Pool Returned To The User The Amount Lost During The Transaction

The Chinese mining pool F2Pool has once again been charged with charging an abnormal commission from the sender of the transaction. This time, the user paid a transaction fee of 2,310 ETH for the transaction. How did F2Pool solve this problem?

Hacker attack and loss of $500,000

On June 12, the user will contact F2Pool with the problem of charging a large commission after the transaction. After the transaction, the user was shocked by the size of the fee of 2,310 ETH, which was automatically withdrawn from his crypto address. This amount from the calculation of the Ethereum rate amounted to about $500,000. Experts believe that it is likely that this transaction fell under a hacker attack on the F2Pool system.

F2Pool quickly responded to this situation. To avoid another collision with a hacker, it was decided to return this amount to the user at a new address. A representative of F2Pool commented on this situation:

“This is a sad misunderstanding. We are loyal to all our users, therefore, we are ready to return the lost amount to the validator. Since the old address is in the hands of the fraudster, we are not ready to risk it again, so we decided to return the commission to the new address.”

As a result, the injured user received 2079 ETH back (about $480,000). This amounted to 90% of the initial amount lost. After joint agreement 10% of the transaction was directed to F2Pool. Thus, the company received 231 ETH ($53,000) as a compensation from the user for this operation.

Strange Ethereum transaction fees

The incident with a loss of about $1.3 million in F2Pool is not the first news about fraudulent attacks on nodes of leading mining pools. Suspicious abnormal commissions have already been seized earlier due to the targeted actions of hackers. In particular, Etherchain and Sparkpool users recently suffered. Owners of crypto addresses in total lost about 2.6 million dollars.

Also, a similar unpleasant situation previously happened with F2Pool. In 2019, the user turned to representatives with a question of why during the transaction commissions of more than 2100 ETH were withdrawn. The mining pool was also able to peacefully solve this problem and the entire amount lost after a short time was returned to the user’s address.

Today, mining pools are investigating the reason for the activation of hacker attacks on systems. Many of the experts claim that these actions were organized in order to blackmail the representatives of the mining pool to gain access to control over the operation of the payment system, as well as to make a profit in the form of a commission from users.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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