After Massive Ether Mining Payout Of 2,100 ETH Posted, Sparkpool To Temporarily Freeze Funds

After Massive Ether Mining Payout Posted, Sparkpool Plans To Temporarily Freeze Funds

When anyone mines for ETH right now, they are provided with a mining reward of 3 ETH, though the amount can vary. Yesterday, someone was abruptly surprised to find that their reward for mining was much higher at 2,100 ETH, amounting to about $300,000 for the mining through Sparkpool. In an effort to determine why this transaction took place in this way, Sparkpool has decided to put a temporary freeze on the funds.

The funds will remain frozen until the sender reaches out to the platform. However, the company still let miners on their platform know that the ether will be held for now, since there is a major possibility of this mining fee being attached in error.

In a statement, Sparkpool said,

“Sparkpool has recently mined a block with a 2100 ETH mining reward, which was an anomaly that triggered our internal emergency mechanism. We have temporarily frozen this fee and are now waiting for the sender to contact us for a solution. If the sender does not reach out in the next a few days, Sparkpool will then allocate the fees to miners who are entitled to the reward.”

The CEO, Xin Xu, has said that much of the reason for holding the funds has to do with the substantially high amount involved. At this point, there does not seem to be any qualms from users or miners for the decision to freeze the funds. Xu continued, saying,

“Unfortunately, and fortunately, blockchain is so far not completely run by machines; humans are still involved. So, we have an opportunity to correct the problem. Integrity is our pool’s priority.”

Since the high payout was posted, there have been many users discussing what caused the activity. Some suggested that the payout was a mistake that happened as a result of multiple users attaching the high transaction fees. Others believe that it is a payment of goodwill from people who trust and believe in the community. However, some users have the unsettling idea that the purpose of the payout was to launder money through Ether mining.

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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