Bitget Will Support Ethereum London Hard Fork
Bitget Global Users：
The Ethereum network will undergo the London hard fork at a block height of 12,965,000 (estimated time at 19:55 on August 05, 2021 (UTC+8)).
This hard fork might result in an additional token. Therefore, to reduce the trading risk caused by market fluctuations during the hard fork and ensure the security of platform users’ assets, Bitget will take the following actions:
1.ETH Deposits Withdrawals
Bitget will suspend the deposit and withdrawal of ETH and other ERC-20 network tokens at around 19:45 (UTC+8) on August 5, 2021. Please deposit and withdraw in time, and the platform will handle any technical issues during the hard fork for users.
2.Regarding the ETH Hard Fork
The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are:
Scenario A: If no new tokens are generated after the hard fork, the platform will resume the deposit and withdrawal of ETH and other ERC-20 network tokens as soon as possible.
Scenario B: If new tokens are generated after the hard fork, the platform will distribute the ETH on the chain with the most work done. We will then also credit users with the token from the minority chain at a ratio of 1:1 based on the snapshot of ETH balances at block height 12,965,000, or approximately August 05, 2021 19:55 (UTC+8). An announcement will be made when the distribution is completed. If there are subsequent changes, the platform will make another announcement.
3. Spot Contract Trading
The spot trading of ETH and other ERC-20 network tokens will not be affected, and the contract trading will not be affected, but the hard fork may be accompanied by relatively severe price fluctuations, please evaluate the risk before trading;
Note：
1. Unconfirmed ETH deposits, pending ETH withdrawals, will not be counted in user snapshot balances. Please process the deposit and withdrawal in time.
2. A further announcement will be made regarding the timing of deposits and withdrawals resuming, as well as further information about the ETH chain split that may affect the above.
3. The Ethereum network upgrade hard fork will take place at Ethereum mainnet block height of 12,965,000. The estimated time is for users’ reference only and is subject to change depending on block propagation times.
For more information, please refer to:
London Mainnet Announcement
London Upgrade Overview
Bitget Team
4 Aug 2021
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