Bixin plans to share giveaways that worth more than 10m USD and calls to prevent the replay attack

In the past month, Bixin has sent giveaways from the Stellar and Byteball team which worth more than one million USD to our users and thus has gained an excellent reputation.

Recently, a technical team claimed to fork an altcoin called Bitcoin Cash (BCC) on August 1st. BCC is a hard fork from Bitcoin; meanwhile, BCC will be delivered to Bitcoin holders according to Bitcoin address by the snapshot. If BCC comes out as planned on August 1st, according to the convention, Bixin is going to exchange BCC for Bitcoin and send the bitcoins to our users. This activity includes all our users from Wallet, Financing Account, and Hashrate Exchange; the estimated value is more than 10 million USD.

Account Snapshot: To confirm the Bitcoin quantity of every user, Bixin is going to take a snapshot for Wallet Account, Finance Account, and Hashrate Exchange in advance.

Sending giveaways: Bixin will exchange the received BCC into Bitcoin by the market price. After removing the transaction commissions, the Bitcoins left will be delivered to Bixin users’ wallet automatically and proportionally, the particular quantity depends on the actual situation. What needs to be pointed out is: due to the large amount of BCC, we will carry it out in batches according to the depth of the market, and it will take a long time, so please be patient and trustful. After exchanging, we will deliver them to our users as soon as possible. Throughout the process, all you have to do is wait.

Risk warning bulletin of replay attack

At the same time, we have to inform our users: the altcoin BCC is a hard fork from Bitcoin, and BCC team has no finished the two-way replay protection yet, which will bring chaos to the whole Bitcoin community. For the safety and integrity of assets, everyone, platform or individual, needs to be prepared in advance. Here are the following details:

All internal functions of Bixin will be operated as usual: during the split, you can use internal transactions, escrow payment, red packet, Finance Account, Hastrate Exchange, group ICO and so on as normal.

External sending will be temporally suspended: Bixin will suspend the external sending at 18:00 (GMT+8) on 1st, August 2017. The recovery time depends on the state of the Blockchain.

Personal wallet operation risk warning: the claim of BCC has a certain technical threshold, bitcoins in your own wallet will be exposed to the risk of the replay attack which may result in a loss of assets. Bixin strongly recommends that newbies should deposit their bitcoins in Bixin or other platforms that can handle this event correctly. If you deposit in Bixin, we will properly handle all the technical problems during the split and deliver giveaways in proportion.

Besides, we would like to provide technical solutions for other teams in need to prevent replay attacks. Please feel free to contact our Mining Pool Operation Manager, Chuanzhen Yu (cell phone: +86 186–0683–8423, Bixin ID: yuchuanzhen).