Miner Receives $500k Mistake from Paxos: Will He Return It?
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Miner Receives $500k Mistake from Paxos: Will He Return It?


By Miles

14 Sep 2023

1 min read


Bitcoin miner Chun gets a surprise $500,000 from Paxos due to a mistake. Now, he's unsure if he should return the huge sum.

A Bitcoin miner named Chun received 20 BTC (over $500,000) by mistake from the crypto exchange, Paxos. This big mistake was for a small $200 transaction.

On Sept. 13, Paxos talked about their big error on Sept. 10. They paid too much in a fee because of a system bug. Traders were not affected, but Paxos did give Chun a huge 20 BTC reward by accident.

Chun first said he'd give back the money. But later, he changed his mind because he was "annoyed" with how Paxos communicated with him. He asked the online crypto community on X (like Twitter) what he should do.

Many people online had different opinions. But, most think Chun shouldn't return the 20 BTC. They believe it should be shared with other Bitcoin miners.

Bitcoin mining profits change based on where someone lives. A reportĀ  said only 65 countries make good money from Bitcoin mining, considering home electricity costs. For example, it's 783x cheaper to mine 1 BTC in Lebanon than in Italy.

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