Preparations for Ethereum Hard Fork & Upgrade
Ethereum (ETH) will undergo a hard fork & upgrade at the block height of 7,280,000 (expected to happen on March 01, 2019, GMT+8). Huobi Global will do the following responses for this upgrade:
1. Before the hard fork (at 1:00 GMT+8, March 1, 2019), we will suspend deposits and withdrawals of Ethereum (ETH) and all ERC20 tokens. All relevant tokens can be traded normally during the upgrade. It is recommended that you deposit the tokens in advance to Huobi Global, and we will help you with technical problems in the hard fork. Don’t worry.
2. ETH short loans have been suspended and users are unable to apply them. ETH short users are advised to repay in a timely manner and pay attention to transaction risks, to avoid trading losses and liquidations caused by price fluctuations. ETH margin will resume after the upgrade is complete and the price is stable. Please pay attention to the announcement in time for the specific recovery time.
3. When the block height reaches 72,800,000, we will take a snapshot of user holdings of ETH on Huobi Global. Accounts in scope for the snapshot include Exchange Account, Contract Account and Margin Account. If any holding rewards are produced during the hard fork process, Huobi Global will distribute them based on snapshot data. The distribution rules are as follows:
1） Exchange Account: Candies will be distributed according to the ETH holding snapshot amount.
2） HB10: Candies will be distributed to the HB10 users proportionate to their ETH component coins.
3） OTC Account: Candies will be distributed according to the snapshot ETH holding amount..
4） Margin Account: Candies will be distributed according to the snapshot ETH holding amount. In addition, when there is unreturned (i.e. loaned) ETH in the user accounts, the unreturned amount will be deducted based on the total ETH amount during the snapshot. (e.g. when there is 1,000 unreturned ETH and X ETH in the account during the snapshot, the ETH amount snapshot will be: X – 1,000)
For the above accounts, ETH less than 0.0001 will not be included in the snapshot. Amount in unfilled/frozen orders will be included in the snapshot.
4. We will release another announcement once the official website becomes secure and stable and resume deposits & withdrawals.
Huobi Global will safeguard your assets as always and take care of the hard fork for you. Thank you for your support!
February 28, 2019