Notice Regarding Bitcoin Fork on Aug 1
Upcoming UAHF / BCC / Margin Trading / Deposits
It is now highly likely the Bitcoin blockchain will undergo a UAHF (User Activated Hard Fork) on August 1st, 2017, which will result in the creation of a new blockchain and a new crypto currency called Bitcoin Cash. The fork is expected to happen at 9:20PM JST, or 12:20PM UTC on August 1st, 2017. You can find more information about Bitcoin Cash here: https://www.bitcoincash.org
As always, we at QUOINE will be taking necessary measures to ensure a smooth trading experience, keeping in mind first of all our customers assets and accounts security. As announced previously, all BTC withdrawals and deposits will be disabled before the fork to prevent any potential issues that may arise as a result of the fork.
We have also received many inquiries regarding BCC (Bitcoin Cash) crypto currency. As an exchange, our goal is to provide a fair exchange platform which is highly secure and compliant. As a result of the fork, users that hold BTC in their balances at the time of the fork will be credited equivalent BCC. If your account balance at the time of the fork holds 1 BTC, your will be credited 1 BCC. You will be allowed to withdraw the BCC credited. Regarding the trading of BCC ,we may offer trading of BCC against fiat and BTC at a later time. An announcement will be made regarding BCC trading at a later time.
Additionally, as QUOINEX margin trading feature involves BTC lending and lending will complicate the BCC distribution, we believe it is in the best interest of all to stop margin trading before and during the fork. We are also asking our users to close their margin positions by August 1 12:00 JST (3:00AM UTC). Any margin positions still open after this time will be force closed by the system. This is to ensure a fair distribution of BCC.
If you are a Japan based user using our CFD trading facility, you will still be able to keep your CFD positions open.
To summarize, please take note of the following measures regarding the anticipated fork:
1) BTC deposit and withdrawal services will be unavailable from July 31st 12:00AM JST (July 30th 3:00PM UTC) and are expected to resume on August 6th 4:00 PM JST (August 6th 7:00AM UTC).
2) Margin trading will be disabled from August 1st 12:00PM JST (3:00AM UTC).
3) All open positions will be force-closed on August 1st 12:00PM JST (3:00AM UTC).
Should you have any questions, please feel free to contact us at [email protected]
Disclaimer: QUOINE Pte. Ltd. or QUOINE Corporation (altogether "QUOINE") assumes no responsibility for any losses incurred from any changes or errors in information provided to you and related third parties.