Dear 58COIN users,
The Bitcoin Cash (BCH) network is expected to undergo a hard fork protocol upgrade at block 1,605,441,600 (approximate time is 20:00 (UTC+8) on November 15, 2020). There are currently two node schemes, Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN), which may lead to the forking of new tokens.
Therefore, in order to reduce the transaction risk caused by market fluctuations during the hard fork and ensure the safety of users' assets, the platform will make the following arrangements:
Spot trading will be suspended at 17:00 (UTC+8) on November 9, 2020 and all market orders will be cancelled.
2. Standard Contract
On November 12, 2020 at 17:00 (UTC+8) standard contract trading will be suspended and the BCH/USD standard perpetual contract will be settled. It is recommended that users close their positions manually in advance.
3. USDT contract, Mix contract
On November 13, 2020 at 17:00 (UTC+8) BCH/USDT contract and the BCHMIX mix contract will be settled at the market price and suspended. It is recommended that users close their positions manually in advance.
4. Deposit and Withdrawal
On November 13, 2020 at 17:00 (UTC+8) BCH deposit and withdrawal services will be suspended. Please recharge and withdraw on time. 58COIN will handle any technical issues during the hard fork for users.
(1) During the holding positions snapshot, if the deposit sum has not arrived or the withdrawal has been completed, it will not be counted in the holding positions snapshot. Please process the deposit and withdrawal in a timely manner within the specified time. 58COIN will assist you in dealing with issues during the hard fork.
(2) The recovery time of deposit and withdrawal services will be announced separately after the hard fork is completed and the network is stable.
(3) The BCH market may fluctuate violently before, after and during the fork, please make corresponding arrangements and risk control in advance.
By adhering to the operating principle of “Customer First, Safety, Strength and Trust”, 58COIN devotes to creating a safe, transparent and reliable digital asset service environment for traders.
November 3, 2020