VirgoCX Will Support the Ethereum (ETH) London Hard Fork

Dear users,

 

VirgoCX will support the Ethereum (ETH) London Hard Fork.

The Ethereum (ETH) London Hard Fork will take place at Ethereum block height 12,965,000, or at approximately 2021-08-05 07:55 (EST). Deposits and withdrawals of ETH and ERC-20 tokens will be suspended starting from 2021-08-05 07:00 (EST). Please ensure that you leave sufficient time for your ETH and ERC-20 token transfers to be fully processed prior to the above time. 

Deposits and withdrawals for the following coins will be suspended:

• Ethereum (ETH)
• Tether (USDT)
• USD Coin (USDC)
• PAX Gold (PAXG)
• Dai (DAI)
• Uniswap (UNI)
• Chainlink (LINK)
• Curve Dao Token (CRV)
• Aave (AAVE)
• Synthetix (SNX)
• Kyber Network Crystal (KNC)
• Basic Attention Token (BAT)
• Compound (COMP)

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. VirgoCX 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. VirgoCX 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 2021-08-05 7:55 (EST) as stated above. Further details regarding this distribution will be stated in a separate announcement.

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

 

Please note:

• The Ethereum (ETH) hard fork will occur at Ethereum block height 12,965,000. The estimated time is for users’ reference only. VirgoCX will adjust the deposit and withdrawal suspension time based on the speed of the network.
• The trading of ETH and ERC-20 tokens will not be affected during the upgrades. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.
• VirgoCX will handle all technical requirements involved for all users holding ETH and ERC-20 tokens in their VirgoCX accounts.
• We will reopen deposits and withdrawals for ETH and ERC-20 tokens once we deem the upgraded network to be stable, and we will notify users in a further announcement.

For additional support and further inquiries, please contact us through online chat.
We apologize for the inconvenience and appreciate your patience.

VirgoCX Support Team

2021/8/3