Dear CITEX Users：
At approximately 2020/11/15 20:00 PM (UTC+8), the Bitcoin Cash (BCH) blockchain is scheduled to undergo a hard fork. It is likely that there is a chain-split between the two main BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), making this a contentious hard fork that may result in an additional token.
As such, to reduce the trading risks brought about by price volatility and to maintain the safety of user funds during the hard fork, CITEX will handle the hard fork as per the following:
1. BCH Deposits & Withdrawals
CITEX will suspend BCH deposits and withdrawals at 2020/11/15 11:00:00 AM (UTC+8). Please ensure that you leave sufficient time for your BCH transfers to be fully processed prior to the time above.
2. Regarding the BCH Hard Fork
The two likely scenarios to occur with the Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN) contentious hard fork are:
Scenario A: The fork results in two competing chains. CITEX will credit users with BCH from the chain with the most work done. We will then also credit users with the coin from the minority chain at a ratio of 1:1 based on the snapshot of BCH balances at 2020/11/15 20:00:00 PM (UTC+8) as stated above. Further details regarding this distribution will be stated in a separate announcement.
Scenario B: No new coin is created. CITEX will then resume BCH deposits and withdrawals as soon as possible.
As per the latest data from Coin.Dance
, 76% of BCH blocks have signaled support for BCHN over the last 7 days, compared to 0.8% for BCHA at 2020/11/16 15:00 PM (UTC+8). If this signaling status continues through the hard fork, CITEX will treat the BCHN chain as the future BCH chain. Should the signaling support change prior to the hard fork, CITEX reserves the right to update the treatment of the chain split in a further announcement.
3. BCH Token trading & Leveraged ETF trading
In order to avoid the severe price fluctuations that may accompany the BCH hard fork, CITEX will close the following trading pairs at 12:00:00 AM (UTC+8) on November 15, 2020:
Tokens trading: BCH/BTC, BCH/USDT
Leveraged ETF trading: BCH3L/USDT, BCH3S/USDT
Oreders cancelling: Users should cancel the pending orders before 12:00:00 AM (UTC+8) on November 15, 2020. If the orders are not cancelled, CITEX will cancel the orders uniformly for users.
- Unconfirmed BCH deposits, pending BCH withdrawals and BCH used as loan collateral will not be counted in user snapshot balances.
- A further announcement will be made recharging the timing of deposits and withdrawals resuming, as well as further information about the BCH chain split that may affect the above.
Thanks for your support!
November 06, 2020