Bitcoin switch error ends in $3 million price, AntPool agrees to refund price

In a perplexing flip of occasions, an uncommon transaction has caught the eye of the cryptocurrency group and AntPool, one of many main mining swimming pools. A consumer inadvertently paid a staggering $3 million in transaction charges for sending $2.1 million price of Bitcoin. The transaction, processed in block quantity 818,087, was flagged by AntPool’s threat management system because of the exorbitant gasoline price, which equates to 83 BTC, and the funds have been subsequently frozen.

The incident unfolded when a consumer, identified by the X (previously Twitter) deal with “83_5BTC,” tried to switch 139 BTC to a brand new chilly pockets. Following the switch, the consumer claimed that their pockets had been hacked, suggesting that an automatic script with flawed price calculations is likely to be accountable. This prompted a post-incident evaluation by Mononaut, a pseudonymous developer behind Mempool, who confirmed the consumer’s declare by message signing. Mononaut highlighted the potential for a safety compromise, indicating that attackers may have employed a replace-by-fee (RBF) tactic to inflate the transaction charges and hasten the theft of funds. The evaluation pointed to weak pockets safety practices, such because the utilization of a low-entropy pockets like a brainwallet, as potential vulnerabilities.

In response to the incident, AntPool has laid out steps for the unique proprietor to reclaim the funds. The proprietor is required to confirm their identification utilizing signature instruments reminiscent of Electrum or Bitcoin Core with their personal key. This course of should be accomplished earlier than December tenth to make sure the rightful proprietor can recuperate the property.

The expensive mistake serves as a cautionary story for Bitcoin customers, emphasizing the significance of sturdy safety measures and the necessity for vigilance when setting transaction charges. It additionally showcases the proactive measures taken by mining swimming pools like AntPool to observe and reply to irregular actions on the blockchain.

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