UPDATE: the transition happened as normal, and we continue to support ETH.
Ethereum’s flagship project, The DAO, recently suffered an exploit, resulting in major price instability. Looking for a path forward, the Ethereum Foundation has proposed a hard fork for recovering funds.
However, the idea of the fork raises important questions for the larger community to address. On one hand, there are those in the camp who believe the purity of the decentralization movement depends on the technology, and even if the technology is at fault, they are willing to accept the loss of funds to prevent what they see as “human intervention.” Others believe the technology must service people, and should change with certain context.
The Ethereum community will vote Wednesday, July 20, on whether or not to accept the proposed hard fork. As a result, there may be network instability, and in order to ensure our members have a seamless experience and to prevent any network discrepancies, starting tomorrow, Wednesday, July 20 at 5:00am PT, we will temporarily disable ETH deposits, withdrawals and conversions until the chain has stabilized and consensus is reached.
Value being held by Uphold members as ETH will transition to the winning chain as soon as consensus is reached. The value will remain unchanged by Uphold, and after this brief interruption in service (due to outside influence), our support for Ethereum will return to normal.
If you have any questions, please feel free to contact us at [email protected].