CoinWind
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CoinWind

Announcement on resuming deposit and withdrawal functions for BSC chain assets

I. Background

On October 30th, the multi-chain deployment of the decentralized transaction protocol BXH.COM’s BSC chain assets was stolen due to the lack of private key management which involved more than $139 million worth of crypto assets. Affected by this incident, CoinWind urgently disabled deposit and withdrawal functions for single token mining and DAO for BSC chain, HECO, and ETH Chain.
After the incident, the CoinWind team quickly had internal meetings and drafted solutions for the product and technical implementation plans in order to resume the proportional deposit and withdrawal of the remaining funds on the platform as soon as possible. We had resumed deposit and withdrawal functions for the remaining funds on the platform for HECO chain at 3 PM, November 10th GMT+8.

As of now, CoinWind has completely resumed normal operations for the HECO chain. Thank you for your trust and support!

II. Updates of the progress of resuming deposit and withdrawal functions and assets that have not been placed on BXH.COM on BSC chain

1. Resuming Time

6 PM, November 15th, 2021 GMT+8

2. Situation of withdrawable asset ratio for BSC chain

In the COW strategy of CoinWind BSC chain, some BTC, ETH, USDT, USDC, and BUSD assets were invested in BXH, it is temporarily unable to withdraw from BXH completely. The rest of the tokens can be deposited and withdrawn normally. The withdrawal ratio and the pending payment ratio are shown in the following table.

3. Withdraw Instructions

a. After resuming the deposit and withdrawal of BSC chain, users can enter the single token mining page V2 version and click [COW Strategy V1], please check the asset data displayed on the pop-up page, and click [Confirm Migration] after verifying that it is correct. Data and asset migration from COW strategy V1 to COW strategy V2 can be completed with one click; after successful migration, the data on the COW strategy V1 page will has displayed purpose;

b. For the tokens that cannot be withdrawn temporarily from the BSC chain, after users complete the data migration, the wallet address will automatically receive the corresponding amount of Ctoken [for staking] and Dtoken [for asset swaping]. Users can view the corresponding token and token amount after adding contract addresses of the corresponding tokens in the wallet. We will provide the two token contract addresses on CoinWind official channels after resuming the deposit and withdrawal functions, so stay tuned;

c. The specific quantity of Ctoken and Dtoken will be distributed with the ratio of 1:1 to the redemption asset;

d. Ctoken and Dtoken are the only certificates for subsequent receipt of the affected principal and repayment plan, please keep them properly.

4. The migration plan of CoinWind’s lossless V2 COW strategy through contract docking

CoinWind realizes the deposit and withdrawal functions for certain tokens by upgrading the smart contract. Therefore, the relevant partners who connect to CoinWind BSC chain lossless V2 COW strategy through the contract need to develop and connect the new CoinWind smart contract to complete the migration and support deposit and withdrawal functions.

If you have any question, please contact CoinWind team members for supports to complete the relevant upgrade and docking work.

Please only Telegram contacting ID is @Moe_Rui

III. Updates of how to deal with the tokens placed on BXH on BSC chain

CoinWind has been following up with BXH’s latest update of the resuming time of BSC chain remaining residual value deposit and withdrawal, stolen asset recovery, compensation plan, and other related matters. We will formulate the corresponding processing plans according to the clear plan officially announced by BXH.

Thank you for your patience and trust in CoinWind platform

CoinWind team
November 12th, 2021

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