In the Arab Bitcoin, we follow the most important issues and events related to the crypto market and blockchain technology, as we previously covered prominent events last week, which was led by a party sending small amounts of Ethereum with very high fees (greater than 2 million dollars).

These huge fees were for mining pools, including the Ethermine pool, which is behind Bitfly. The latter provided a deadline before distributing the mined amount, estimated at 10,668 Ethereum ($2.4 million).

It appears that the deadline has passed for Bitfly to announce that it will distribute what was mined to miners who were active by the time the transaction went through last Thursday. Advertising Bitfly:

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Since the sender of the transaction … has not contacted us after 4 days, we have made the final decision to distribute the sending fee to the miners in our group.

Given the amount involved, we believe 4 days is sufficient time for the sender to contact us.

And the same for what the “Spark Pool” pool said, where it was told that it would distribute transaction fees of $2.6 million to its members, and the pool management stated in this regard:

The legitimate sender of the transaction has not yet contacted us to provide a verification signature to prove their identity.

Therefore, we decided to distribute the transaction fees to the Ethereum miners who worked that day.

As a reminder, last Wednesday, the Spark Pool processed a single-address transaction with a massive Ethereum balance sending $133 worth of Ethereum with a transaction fee of $2.6 million.

Roughly one day later, at around 04:00 UTC Thursday morning, the same address sent 350 ETH with another fee, worth $2.6 million again.

When the network is running smoothly, the average Ethereum transaction fee is around $0.50.

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Thus, the two transactions would cost about $1, but instead a $5.2 million fee was set for those two transactions alone.

The Spark Pool that had gone through this before had the transaction frozen to give the sender time to communicate and work out a deal to get back some transaction fees.

But apparently, no party contacted the complex within the specified deadline, and accordingly, the fees will be distributed to the complex’s miners who were active at that time.

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explained Managing the “Ethermine” complex by saying:

In the future, we will not be involved in stopping the payment of large transaction fees.

Our stated payment policy is always to distribute the full block reward and we will honor that reward for the amount involved.

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