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San Francisco based Bitcoin Exchange and provider Coinbase has made an update regarding the current status of the Ethereum (ETH) network and the upcoming ETH hard fork.
In order to protect against denial-of-service (DOS) attacks, the Ethereum foundation plans to promote a hard fork of the ETH network on Tuesday, October 18, 2016 PDT. This will likely cause ETH network instability for a period of time. Customers should expect delays to ETH deposits and withdrawals from Coinbase for up to the next 7 days. All customer ETH funds will be safely secured on Coinbase during this period.
In order to ensure the integrity of all customers’ ETH transactions, Coinbase will temporarily suspend deposits and withdrawals from all customer ETH wallets starting Monday, October 17, 2016 at 6 P.M. PDT. As soon as possible after the fork, Coinbase will resume support for deposits and withdrawals of ETH.
Coinbase will support only one fork of the ETH protocol. They will not support any other fork of the ETH protocol. If customers wish to transact on alternative forked chains, they should withdraw their ETH from the Coinbase platform no later than Monday, October 17, 2016 at 12 P.M. PDT.
Customers may continue to store and trade ETH, as well as engage in ETH transactions with other Coinbase users during the suspension period. Additional information may also be found on our status page.
Coinbase will delay ethereum classic (ETC) withdrawal support until after the ETH hard fork is resolved. Customers eligible to withdraw can follow Coinbase’s Twitter account or the status page for updates.