Bixin, formerly HaoBTC, a Beijing-based bitcoin wallet and mining pool provider announced today its stance on the August 1st Bitcoin soft fork and its potential disruptions. They stated that when facing a Bitcoin fork, Bixin’s primary task is to ensure the safety of its customers’ fund. As soon as a split is confirmed, Bixin will temporarily suspend the external deposit and withdrawal of bitcoin so as to ensure security and integrity of its customers’ assets. Meanwhile, Bixin’s internal transactions will not be affected. The company plans to fully evaluate the technical risks of the fork, such as the possibilities of replay attacks, network instability, and other factors. Bixin will recover these functionalities as soon as possible.

As soon as the split is confirmed, Bixin will snapshot the assets in wallet accounts, financing accounts, and the hashrate exchange as a reference for the prospective distribution.

After confirming which coin is the ‘Bitcoin,’ Bixin will regard the other one as a fork coin, exchange it to bitcoin, and distribute it to its users; the distribution will be based on the snapshot mentioned above. Again, this plan includes all users of wallets, financing accounts, and the Hashrate Exchange.

Finally, Bixin mentioned it will work closely with other teams in the industry to promote the smooth updating of Bitcoin, and to ensure the overall stability of the development of Bitcoin.