Statement on Bitcoin Cash Forking - Bitcoin-SV (BSV)
Dear CoinEx users:
We’ve recently noticed that nChain (https://nchain.com/en/), an influential company in Bitcoin Cash community, published an announcement of the creation of Bitcoin SV (https://nchain.com/en/blog/bitcoin-sv-launch/):
Bitcoin-SV (BSV) is the altered version of Bitcoin Cash protocols. BSV is likely to bring a potential fork of Bitcoin Cash by causing incompatibility with Bitcoin Cash network and therefore create a new cryptocurrency asset - Bitcoin-SV (Token: BSV). Should it happen, all Bitcoin Cash holders will then receive BSV assets against a 1:1 ratio on your BCH assets.
As a responsible cryptocurrency trading platform who guarantees maximum protection for customer assets, we decide to make the following precautions for a potential fork:
1. On the basis of “snapshot” during the potential forking, we will allocate BSV to your accounts against a 1:1 ratio on your BCH assets.
2. After the fork, we will release a BSV/BCH trading pair in CoinEx so you can buy or sell BSV.
3. CoinEx will not support BSV deposit and withdrawal until its chain is stabilized and all supporting services e.g. wallet are available. Please refer to our official announcement for more information.
Potential security risks
Unlike the previous forked assets, Bitcoin-SV (SV) lacks the replay protection mechanism, which will bring chaos to the entire Bitcoin Cash network, causing unnecessary asset loss for users.
Therefore, CoinEx strongly recommends that Bitcoin-SV (SV) could take the concerns into consideration and add replay protection mechanism to avoid any unnecessary loss.
CoinEx will protect your assets
Together with ViaBTC mining pool, CoinEx will guard your assets even if there’s no replay protection.
To avoid unnecessary asset loss, CoinEx recommends all users to deposit their BCH assets to CoinEx before the potential forking. We will provide 100% protection for your assets and please be assured that you will receive the forked asset of BSV as promised.
CoinEx reserves the rights of final explanation of the announcement.