Dear respected users,
In order to support the upcoming Ethereum London network upgrade & hard fork, Hotbit will suspend the deposit and withdrawal of ETH and ERC-20 tokens at approximately 11:45 AM UTC on August 5th, 2021. And we will reopen the deposit and withdrawal functions of ETH and ERC-20 tokens once we deem the upgraded networks to be stable after the hard fork is completed.
- The Ethereum network upgrade & hard fork will take place when the Ethereum block height reaches 12,965,000, which is expected to be at approximately 11:55 AM UTC on August 5th, 2021. The estimated time is for users’ reference only and Hotbit will adjust the suspension time based on the block height;
- The trading on Hotbit will be unaffected during the upgrade & hard fork. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks;
The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are:Scenario A:No new token is created. The deposit and withdrawal functions of ETH and ERC-20 tokens will be recovered as soon as possible. A further announcement will be posted.Scenario B:The chain splits into two competing chains and a new token is created. Hotbit will credit users with ETH from 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. Further details regarding this distribution will be stated in a separate announcement.
If there is to be any change, Hotbit will update the treatment of the chain split in a further announcement.
If the tokens that support multi-chain to deposit and withdraw, the deposit and withdrawal functions of other chains will not be affected, and users can choose to deposit or withdraw corresponding assets through other chains.
Thank you for your patience!
August 3rd, 2021