At block height 12,965,000, or approximately on , 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, WazirX 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
WazirX will suspend ETH and ERC-20 tokens deposits and withdrawals on August 5, 2021 at approximately 5:15 AM IST. Please ensure that you leave sufficient time for your ETH and ERC-20 tokens 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 WazirX.
2. Regarding the ETH Hard Fork
The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are:
No new token is created. WazirX will then resume ETH and ERC-20 tokens deposits and withdrawals as soon as possible. A further announcement will be posted.
The chain splits into two competing chains and a new token is created. WazirX 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 as stated above. Further details regarding this distribution will be stated in a separate announcement.
WazirX reserves the right to update the treatment of the chain split in a further announcement.
- Unconfirmed ETH deposits, and pending ETH withdrawals will not be counted in user snapshot balances.
- A further announcement will be made regarding the timing of deposits and withdrawals resuming, as well as further information about the ETH chain split that may affect the above.
- The Ethereum network upgrade & hard fork will take place at Ethereum mainnet block height of 12,965,000. The estimated time is for users’ reference only and is subject to change depending on block propagation times.
For further information, please refer to the following:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. WazirX will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.