Announcement update Regarding the Upcoming Ethereum Merge

Dear LBank users,

 

The time for Ethereum Merge is estimated at 09:30, September 15, 2022(UTC+8). This time is an estimate and may vary depending on when the 58750000000000000000000 total terminal difficulty value is reached.

 

As hard forks may generate new tokens and cause price fluctuations, in order to reduce the trading risks and to maintain the safety of user funds during the hard fork, LBank will suspend deposits and withdrawals for ETH and ERC-20 tokens at 23:00, September 14, 2022(UTC+8). Please refer to the subsequent announcements for reopening time.

 

Please ensure that you leave sufficient time for your ETH and ERC-20 tokens deposits and withdrawals to be fully processed prior to the above time. We will handle all technical requirements for users holding ETH and ERC-20 tokens on LBank.

 

For more business adjustments, please refer to the published announcement

Notice Regarding the Upcoming Ethereum Merge

 

Further notes:

Uncredited ETH deposits, pending ETH withdrawals will not count toward the snapshot of users’ ETH balances before the Paris execution layer upgrade.

This snapshot includes the net balance of ETH in the Spot account, Futures account, Gird account and Earn account. New tokens generated after the hard fork will be distributed to eligible users.

A further announcement will be made regarding the timing for the resumption of deposits and withdrawals, as well as further information about the potential ETH chain split that may affect the above information.

The estimated start time of the hard fork is for user reference only and may change according to the processing speed of blocks;

LBank will reserve the right to update announcements regarding the Ethereum merger processing.