Only a small mistake, Bitmain pre-encrypted operator lost the same amount of Bitcoin $ 150,000

Just because of a mistake when setting the coinbase value to dig bitcoin, Bitmain lost 12.5 BTC after digging a block.

According to a report by BitMEX Research, an analyst for BitMEX’s pre-encrypted trading platform, Bitrmain – the owner of the Antpool crypto-mining pool and also a giant in the pre-coding – just-throws world. window ”a bit of bitcoin worth nearly $ 150,000.

On June 10, Bitcoin network rejected a block of Antpool after it was dug, this also meant completely canceling the 12.5 BTC bonus (worth about $ 146,200) for the operator. . Any resource spent on that block now as well as “pouring into the river, into the tank”. But why Antpool’s block was rejected when it was exploited.

Coinbase transaction

Normally Bitcoin network will reward BTC for pre-coding operators when successfully adding a block to its blockchain chain. To claim this reward, they must first add “coinbase transactions” to the blocks. (Coinbase transactions are the first transaction of the block, must be created by the operator to claim bonuses for creating blocks – so don’t mistake it for the Coinbase cryptocurrency exchange).

When Bitcoin networks accept blocks, operators will collect coinbase transactions. There is a rule when doing this: the value of the transaction must be equal to the amount set by the Bitcoin protocol, currently 12.5 BTC (equivalent to 146,200 USD). This number is scheduled to halve every 300 days.

To ensure that the operators create the correct rules as above, a full node of the bitcoin will automatically reject the blocks that do not meet the protocol.

Currently coinbase transactions must be valued at 12.5 BTC

According to a report by BitMEX Research, the Bitcoin network rejected Antpool’s block when it made an incorrect coinbase transaction.

More specifically, instead of having a 12.5 BTC value as the specified protocol, someone who digs this block seems to have asked for a bonus of 13.26 BTC (equivalent to 154,700 USD). This figure is equal to the value of an exact coinbase transaction (12.5 BTC) plus the total transaction fee involved.

” The value of coinbase transactions became too high, probably because someone charged an additional transaction fee, so it caused an error and the transaction itself was not accepted .” The tweet from BitMEX Research said. .

It’s too wasteful that Bitmain has lost nearly $ 150,000 just because of a small mistake when setting up the coinbase transaction value – an operation that is so familiar to the big bitcoin operator like Antpool. Bitmain has not yet responded to the request for comments from the Hard Fork news site.

Source : Genk