The person who owns the wallet has three days to reclaim the excessive transaction fee from the mining pool that received it.
“The transaction that paid nearly 20 BTC fee a few hours ago looks like an exchange or payment processor with buggy software,” Lopp said on X.on September 10 at 5.10 PM UTC. It made four payments that added up to around $200, while sending $1,700 of bitcoin to a change address. The transaction fee was 19.89 bitcoin.Three days to recover the bitcoin
The transaction fee went to Bitcoin mining pool F2Pool, which mined the block containing the transaction. Chun Wang, co-founder and administrator of F2Pool, said the 20 bitcoin will be put on hold for three days in case the originator wants to claim it. If unclaimed during that period, it will be paid to its pool of bitcoin miners.
Over its history, Bitcoin has seen a number of high-value transaction fees. For instance, according to, someone paid $134,000 as a fee during a transaction in 2016. In total, there have been 24 Bitcoin transaction fees exceeding $20,000 — and 233 transactions that have included fees above $10,000. Bitcoin users can pay any amount they wish for transaction fees. If the transaction fee is too low, miners may not accept it and if it’s very high, it will likely be processed immediately. Average transaction fees are© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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