Dear OKEx users,
BCC (BitcoinABC) is launching soon. To protect our users, OKEx has decided to take action related to the BCC launch starting on July 31 20:00. Our policy is as follows and are in three stages.
Stage 1: July 31 at 20:00
1. OKEx will suspend BTC withdraws, and suspend transfers between spot and contracts accounts on OKEx. In addition, we will also halt the chain split token product between Old BTC, BCC and BCS.
2. As transactions for chain split trading BCC / BTC and BCS / BTC will end on 20:00 on July 31, you are advised to complete all orders before then. Beyond this time, our system will automatically revoke all remaining available balances and transfer your balances to your OKEx spot account.
3. OKEx will determine user’s BCC and new BTC balances in a clear manner. The calculation for BCC will be the user’s number of old BTC in your spot account for which you will receive BCC 1 to 1, plus any BCC you may have purchased in advance on our chain split trading product. The calculation for the new BTC will be the user’s number of old BTC in your spot account, for which you will receive new BTC 1 to 1, plus any BCS you may have purchased in advance on our chain split trading product. New BTC will temporarily during this transition stage be named BTC (BCS).
We give an example calculation below:
At the time of July 31, 20:00, suppose a user’s balances on OKEx are 10 Old BTC (Spot), 5 BCC (Chain Split Token), and 3 BCS (Chain Split Token). The total distribution of BCC into the spot account will be 15 BCC (10 BCC distributed from the BTC balance + 5 BCC from Chain Split Token). The total BTC (BCS) balance will be 13 BTC (BCS) (10 Old BTC + 3 BCS from Chain Split Token.) User’s total balance is 15 BCC and 13 BTC (BCS)
Stage 2: August 1 at 12:00
1. OKEx will suspend bitcoin deposits as well as suspend any transfer of bitcoin between OKCoin.cn, OKCoin.com and OKEx. In order to not affect your trading experience, we advise you to deposit bitcoins in advance.
2. For any BTC deposited into OKEx after August 1 at 12:00, there will be a delay to credit your account. The specific delay of any deposits will be addressed in a later announcement.
Stage 3: The First BCC Block
1. BTC (BCS) name will change to BTC based on market conditions
2. All users of OKCoin.cn OKCoin.com and OKEx will receive their distribution of BCC on their OKEx spot account directly. Users will be notified again on this matter.
3. We will officially launch BCC / BTC spot trading on OKEx for buying and selling BCC.
We kindly remind you again:
1. From August 1, 2017 at 12:00 to August 3, 2017 00:00, in order to prevent replay attacks we will halt Bitcoin deposits and withdraws. In order to not interrupt your trading experience, we recommend you deposit bitcoins in advance.
2. In order to prevent replay attacks leading to a loss of either BTC or BCC, the OKEx technical team will be conducting extensive testing, and the resumption of deposits and withdraws may be earlier or delayed.
We hope you continue to count on OKEx for innovation, stability, as we strive to build better products and services for everyone.
OKEX: +852 5808 5768
July 31, 2017