With the countdown running for upcoming Ethereum hard fork, cryptocurrency exchanges have been updating its users, notifying them the current status of the hard fork. Digital currency exchange platforms Kraken and Bitfinex have notified its users following the update from Poloneix and Coinbase.
Kraken stated in its post that it will halt funding of ETH and all related assets including ETC, DAO, REP, a couple of hours prior to the fork. The funding will be re-enabled after the outcome of the fork is clear and the network is safe. However, trading of ETH and all related assets will continue as normal and the balances will be tokens of the dominant chain (the chain with the most work on it) after the fork.
“Funding for ETH, ETC, DAO, REP will be halted - do not send deposits during the fork. Client funds will be safely secured on Kraken during this period,” it added. Kraken mentioned that it will not support balances and trading on the non-dominant chain. It also notified its customers to update their Ethereum client to the latest version.
Bitfinex also mentioned in its post that users holding ETH need not take any special actions as ETH balances will automatically be migrated to the new chain. The cryptocurrency exchange will disable ETH and ETC deposits and withdrawals temporarily before 45 minutes of the hard fork.
It added that trading will continue normally during this period, and deposits and withdrawals will start being processed again once the hard fork ends.
“ETH owners who wish to maintain full control themselves over which chain to keep their ETH balances on a need to withdraw their ETH to a local wallet before withdrawals will be deactivated. We will not be processing withdrawals on the deprecated chain and are not responsible for returning any ETH from the deprecated chain back to users. This applies to the fork occurring on Tuesday, October 18th and to the additional forks occurring in the coming days,” it added.
