According to the official Ethereum plan, ETH (Ethereum) will undergo the London hard fork upgrade when the block height reaches 12,965,000 (expected at 19:55 on August 5, 2021, UTC+8).
The London hard fork may generate a new forked coin. Bibox will support the upgrade with the following arrangements for protecting users' assets by reducing trading risks brought by market volatility during the hard fork:
1. Suspend deposit and withdrawal
Bibox will suspend the deposit and withdrawal of ETH and other ERC20 series tokens on the ERC20 chain at 19:45 (UTC+8) on August 5, 2021. Please handle your deposit and withdrawal business in advance. After the suspension, deposit or withdrawal will not be available.
2. Assets and transactions will not be affected
During the hard fork, your ETH and ERC20 series currency assets and spot transactions on Bibox will be normal and will not be affected. However, the hard fork may be accompanied by severe price fluctuations. Please participate with caution.
3.The Likely Conditions after Hard Fork
The Ethereum hard fork will produce the following two situations:
1) If no new forked coins are generated, Bibox will resume deposit and withdrawal after confirming the stability and security of the ETH mainnet. The specific time will be notified by an announcement.
2) If new forked coins are generated, Bibox will distribute ETH tokens to users. We will take a snapshot of users' ETH holdings at the block height of 12,965,000, and distribute holding rewards to users proportionally based on the snapshot data. Position rewards will be issued to the user's account, and will be notified by an announcement after the completion of distribution.
Thank you for your support to Bibox!