Bitcoin mining pool F2Pool has returned 19.8 bitcoin (BTC) to Paxos after the crypto services firm paid a $520,000 fee on a transaction worth just $2,000 earlier this week.
Paxos said the overpayment was due to a “bug” in the corporate operations side of business. Bitcoin fees are typically no more than $20 per transaction. Blockchain data shows the funds were returned to Paxos on Friday.
A bitcoin fee is what miners receive after a transaction is confirmed on the Bitcoin blockchain. Fees can be adjusted by the user to give certain transactions priority over others.
“After conducting identity verification, we have confirmed the