Deposits and Withdrawals on ETH, All ERC20 Assets, and USDT During the Ethereum Merge

Deposits and withdrawals of ETH, all ERC20 assets, and USDT during the Ethereum merger

After the Bellatrix upgrade, the total terminal difficulty reached 5875000000000000000, triggering the much-anticipated Ethereum merger to take place on September 15-17.

At BitMEX, the priority is to protect all clients’ assets.

During the merger, BitMEX will suspend withdrawals of ETH, all ERC20 assets, and USDT on all networks as a feature of the cross-network fungibility for this asset.

Further details on the suspension period will be provided as the merger nears.

To avoid any potential loss of funds, clients should not process any deposits during this time.

During the Ethereum merger, trading on the derivatives and spot exchanges will not be affected.

The index protection rules will help provide fair and stable marked prices, based on the prices offered by the constituent spot exchanges. Note that volatility may increase during this time.

Traders should manage their risk accordingly. BitMEX reserves the right to adjust and update affected indices at short notice to protect the stability and integrity of the market.

  • Behavior on BitMEX is not expected to change for the merged Ethereum chain.
  • The ID and name of the ETH native asset will remain the same.
  • All corresponding tokens running on top of the Ethereum blockchain will also maintain their current names and IDs.
  • No action is required for those wishing to move their assets onto the upgraded merged Ethereum chain.

After the Ethereum merger, if the forked ETH PoW chain shows economic value, BitMEX will evaluate listing it as a standalone asset.

Support for any forked currency is entirely at BitMEX’s discretion.

While BitMEX will snapshot users’ margin balances upon merge, if BitMEX decides to distribute, there is no guarantee that doing so will be safe, desirable, or practical.

If you have concerns and want to deal directly with the impact of a potential fork, you can of course withdraw your ETH to self-custody before the merger.

Go to BitMEX’s Official Website