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September 27, 2020
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Over $ 2 million in Ethereum has not been claimed

The $ 2 million fee for a mysterious Ethereum transaction will be distributed to mining pool contributors after four days on hold

It appears that more than $ 2 million in ETH will not be claimed. After waiting four days, Austria-based blockchain innovation company Bitfly will distribute the proceeds of an Ethereum transaction submitted at a fee of more than $ 2.4 million.

The broadcast was one of the transactions carried out last week, spending a total of more than $ 5.2 million in fees, raising speculation about a major undetected bug in a rarely used smart contract or financial blackmail by hackers.

The frozen transaction was initially validated by Ethermine, a mining pool managed by Bitfly. The benign suspension may have hindered some penalties among taxpayers in the pool – Bitfly was careful to clarify that the executive action was timely and will always distribute the full block reward, as described in the payment policy.

Discussions started after the first high-rate transaction on July 10 in the amount of nearly $ 2.6 million, focused on possible errors in an automatically triggered transaction. An equally disproportionate second transaction sent out the next day, however, forced observers to consider other possibilities. The July 10 transaction was extracted by SparkPool, whose investigation is ongoing.

After the second high-rate transaction, China’s blockchain analytics firm PeckShield published a report indicating that the mysterious transactions may be the result of partially unsuccessful hackers. The research claims that an undisclosed cryptocurrency exchange had credentials compromised in a phishing attack.

It was not possible to drain funds to their own address due to multisig wallet protections, but the information allowed attackers to transact to a small list of addresses on the whitelist. From there, the hackers transmitted the transactions in question, in an effort to secure a redemption of the exchange, under the threat of additional unnecessary submissions.

With the launch of Ethermine fees, it seems that the mystery will not have a quick fix. Bitfly noted that while several people came forward to claim the fee, no one was able to sign transactions for the shipping account to prove their control of the private keys.

We can get only one answer after a successful investigation by Sparkpool, or if the poor soul who controls the account decides to introduce himself and tell his story.

Source: Decrypt

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