F2Pool’s handling of abnormal Ethereum (ETH) transaction fee on June 11, 2020

By June 18, 2020Ethereum
Click here to view original web page at blog.f2pool.com

On 2020-06-11 23:12, F2Pool mined an abnormal 3,221.6454 ETH transaction on the Ethereum network which also had a 2,310 ETH transaction fee. The TXID was 0xfd10c9a4507c4ebf1db9f71e05ba8ea09f3603c9012c24195d731a1fadfa14d9.

Later, on 2020-06-12 00:33, the sender contacted the F2Pool team and explained that they experienced a malicious attack on their node wallet, and 5,531.6454 ETH (worth $1.23 million USD) was transferred out. The sender earnestly requested F2Pool to return the transaction fee part of the transaction to retrieve part of their losses.

F2Pool operates both a PPS pool (address mining) and a PPS+ pool (account mining) for Ethereum. This transaction was mined by the PPS pool (shown by the Hex code ending with b1bc in the block data).

Out of our humanitarian spirit, F2Pool has decided to return the transaction fee component of the transaction. It’s not feasible to return the fee back to the original sender address as the address is also now controlled by the hacker. Therefore, we agreed to send the fee to a new address provided by the original address owner after full verification of the address and owner.

The following communication and verification process took several days of effort from us:

  1. Verify the tag of the new address is consistent with the tag of the sender’s original address and generates new blocks normally (another mining pool is the owner of the original address).
  2. The original address holder was required to sign the new address 0x3ecef08d0e2dad803847e052249bb4f8bff2d5bb using the private key of the original address 0xda466bf1ce3c69dbef918817305cf989a6353423, and verify that the signature is valid and verified, as shown in the following image.

In order to say thank you to those that have firmly supported and trusted F2Pool even before all the details of the incident were fully disclosed, we negotiated with the original address holder to keep 10% of the transaction fee (231 ETH) and use it for a one-week event of 0% mining fees for F2Pool Ethereum mining, from 2020-06-20 to 2020-06-26 (inclusive). Any shortfall will be covered by F2Pool.

After we are completely satisfied with the verification process, F2Pool has returned 2079 ETH to the new address 0x3ecef08d0e2dad803847e052249bb4f8bff2d5bb which has been provided by the sender, the related transaction ID is: 0xee077b832698ccd575b0c9eae8da15ed4aa64b38f369c11935bc795793064a59.

F2Pool will continue to follow its core values, providing reliable support for the healthy development of proof-of-work cryptocurrencies, and contributing its own strength to the overall growth of the blockchain industry. We hope to see the continued safe and smooth growth of the industry.

The F2Pool Team

Later, on 2020-06-12 […]

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