On September 10, 2023, an unknown counterparty paid $510,000 in fees to transfer 0.074 BTC for $200. As it turned out, this mistake was made by Paxos.
The commission was received by the mining pool F2Pool. At the same time, his administration stated that it was ready to return the funds, but for this the sender should hurry up.
On September 13, Bitcoin Magazine reported that payment service provider PayPal was likely behind the transfer. However, it later turned out that Paxos made a mistake.
In a comment to The Block, a representative of the organization confirmed this information:
“On September 10, we overpaid for the commission on the Bitcoin network. This only impacted Paxos’ corporate activities; client funds were not affected in any way.”
The company noted that the error occurred during a single transaction and has already been corrected. According to its representative, Paxos has contacted F2Pool and is negotiating a refund.
Note that the pool administration gave the sender three days to confirm the payment of funds and request cancellation of the transaction. At the time of writing, it is unknown whether Paxos managed to return the money