CoinWind
Published in

CoinWind

Announcement on resuming the deposit and withdrawal of ETH Chain assets

November 22nd, 2021

I. Background

On October 30th, the multi-chain deployment of the decentralized transaction protocol BXH.COM was stolen in the BSC chain due to the leakage of the private key. Affected by this incident, CoinWind urgently closed the BSC chain and HECO on the same day. Chain, ETH chain single token mining and DAO deposit and withdrawal (including withdrawal income).

After the incident, the CoinWind team quickly researched and formulated a technical implementation plan. By upgrading the smart contract, the deposit and withdrawal of the remaining assets of the HECO chain and the BSC chain platform were opened on November 10 and November 15 when they were approved.

Up to now, CoinWind’s COW strategy v2 on the HECO chain and BSC chain has completely resumed normal operations. Thank you again for the trust and support of our users!

II. Description of the opening of the deposit and withdrawal of ETH chain assets

  1. Resuming Time

4 PM, November 24th, 2021 MGT+8

2. Extractable ratio of ETH chain asset
For CoinWind ETH chain COW strategy, only part of the WBTC was invested to the BXH protocol that cannot be fully withdrawn temporarily, and the rest of the tokens can be deposited and withdrawn normally. The proportion of WBTC that can be withdrawn and the proportion to be redeemed is shown in the following table.

Updated: 11 AM, November 22nd, 2021 GMT+8

3. Extraction instructions

a) After resuming the deposit and withdrawal of the ETH chain, users can enter [Single Farms V1 → check the asset data displayed on the pop-up page →Confirm Migration] to complete it with one click of data and asset migration from V1 to V2; after successful migration, the data on the V1 page will only be displayed;

b) For WBTC that cannot be withdrawn from the ETH chain temporarily, after users complete the asset migration, the wallet address will automatically receive the corresponding amount of CWBTC [for pledge mining] and DWBTC [for asset exchange]. After filling in the contract address of the corresponding token in the Wallet or Huobi Wallet, you can see that, we will provide the Token contract address in the CoinWind community after the opening of the deposit, so stay tuned;

c) CWBTC and DWBTC will be issued 1:1 according to the funds to be redeemed, and the specific amount is subject to actual receipt;

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

III. Updates of how to deal with the WBTC on ETH Chain that cannot be withdrawn from BXH.COM

After the incident, CoinWind has been urging the BXH.COM project party to retire the assets invested by the HECO chain and ETH chain users as soon as possible. As of now, most of the funds invested in the ETH chain BXH.COM protocol have been successfully retrieved, but there is still part of WBTC that has not been withdrawn due to insufficient funds in BXH.COM protocol.

If it is successfully being withdrawn in the future, users can use Dtoken to redeem it on the asset exchange page. A separate announcement will be made at that time, so stay tuned.

Thank you for your patience and your support and trust in the CoinWind platform.

CoinWind team
November 22nd, 2021

· CoinWind Website (Start Mining)

· CoinWind Twitter and Telegram Channel (For the latest news)

· CoinWind Telegram Community

--

--

--

Defi Ecological Smart Mining Financial Platform

Recommended from Medium

How Bitcoin Fares as an ESG Asset

Connect to Binance API using Python

Philcoin welcomes world-renowned celeb pastor, international author and executive coach to their…

$AMOGUS Community Update Second Edition: Roadmap for the future

THE OCTAVERSE

Roadmap Revelations p.3

Empowering People Through Blockchain

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
CoinWind

CoinWind

Defi Ecological Smart Mining Financial Platform

More from Medium

DDAO Farming on GYSR

How Axelar Network can interconnect all existing blockchain into one large unified ecosystem

Commodity Derivatives: Everything you need to know

All you need to know about DeFi