Key Takeaways Ethermine offered to wait for the sender to come forward to correct the high fee error. The pool has now decided to keep the transaction fees. The mystery transactions remain unexplained. Share this article Ethermine, the mining pool that validated the second of the million-dollar Ethereum transactions, has decided to keep the fees after the sender failed to contact the pool. Mysterious Million-Dollar Ethereum Fee Last week, two high fee Ether transactions caught the attention of the crypto community. Sparkpool mined the first transaction on Jun. 10. 0.55 ETH was sent for a cost of around $2.5 million. Ethermine mined the second transaction on Jun. 11. That was a transaction of 350 ETH for over 10,000 ETH in fees, also around $2.5 million. Several theories circulated about the cause of the transactions. A simple “fat finger” mistake was ruled out by many as it occurred twice. Someone just spent $2.6 million in fees to transfer 0.55 ETH. 👀By far the highest fee ever paid. Fat finger or money laundering? (Source: @glassnode)https://t.co/GpmMPuxoWw pic.twitter.com/58x2NIpdAY — Arcane Research (@ArcaneResearch) June 10, 2020 Another theory states that a hacker was blackmailing an exchange. This thesis holds that the malicious agent gained access to a wallet but could only send Ether to whitelisted addresses. The threat, in that scenario, is that the hacker was seeking money in return for ceasing to drain the account through absurdly high fees. Others speculated that the legitimate wallet owner was sending high fees as a tax evasion measure. Ethermine Promised to Freeze Fees Ethermine promised to freeze the payout of fees, assuming the two events were an accident. They asked the sender to contact them. Today our Ethermine ETH pool mined a transaction with a ~10.000 ETH fee (https://t.co/B5gRWOrcPf). We believe that this was an accident and in order to resolve this issue the tx sender should contact us at via DM or our support portal at https://t.co/JgwX4tGYr4 immediately! pic.twitter.com/sWxVRx5muv — Bitfly (@etherchain_org) June 11, 2020 The sender did not respond to the request, as today Ethermine announced that, after waiting four days, they would be disbursing the fees to the miners in their pool. As the sender of the transaction https://t.co/h21A2Th4fw has not contacted us after 4 days we have made the final decision to distribute the tx fee to the miners of our pool. Given the amount involved we believe 4 days is sufficient time for the sender to get in touch with us. — Bitfly (@etherchain_org) June 15, 2020 While Ethermine was criticized for not giving the sender enough time to contact them, if the transactions were a mistake, the sender would have made contact quickly to correct the situation. That nobody came forward only feeds into the narrative that the action was malicious. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Those Million Dollar Ethereum Transactions? Could Be a Hacked Exchange This Proposal Could Solve Ethereum’s Congestion Problem Highest Ethereum Transaction Fee Ever? Someone Accidentally Paid a $2…. Post navigation Those Million Dollar Ethereum Transactions? Could Be a Hacked Exchange