Notice Regarding the Ethereum London Hard Fork

Notice Regarding the Ethereum London Hard Fork

Dear Users,

At block height 12,965,000, or approximately 2021–08–05 11:55 (UTC), the Ethereum (ETH) blockchain is scheduled to undergo the London Hard Fork.

In the event that the hard fork might result in an additional token, BuyUcoin has taken the following steps to reduce the trading risks brought about by price volatility and to maintain the safety of user funds during the hard fork as per the following:

1. ETH Deposits & Withdrawals

BuyUcoin will suspend ETH and ERC-20 tokens deposits and withdrawals at approximately 2021–08–05 00:00(UTC). Please ensure that you leave sufficient time for your ETH and ERC-20 token transfers to be fully processed prior to the above time. We will handle all technical requirements for users holding ETH and ERC-20 tokens on BuyUcoin.

2. Regarding the ETH Hard Fork

The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are:

Scenario A:

No new token is created. BuyUcoin will then resume ETH and ERC-20 tokens deposits and withdrawals 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. BuyUcoin 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, or approximately 2021–08–06 00:00 (UTC) as stated above. Further details regarding this distribution will be stated in a separate announcement.

BuyUcoin reserves the right to update the treatment of the chain split in a further announcement.

3. ETH and ERC-20 Tokens Classic & EZ OTC Trading

Classic & EZ OTC trading: ETH and ERC-20 tokens spot trading will not be affected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.

4. What is Ethereum London Hard Fork?

For further information, please refer to the following:

• London Mainnet Announcement
• London Upgrade Overview

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. BuyUcoin will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

Thanks for your support!

BuyUcoin Team

Notice Regarding the Ethereum London Hard Fork was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.