Uphold will deliver Ethereum Classic funds to members in the next few weeks
As mentioned in a previous post, when the Ethereum blockchain went through a hard fork, we followed consensus and updated all ETH funds in our members accounts. In the meantime, the other side of the fork has stabilized into what is now known as Ethereum Classic (ETC). Popular exchanges like Bittrex and Poloniex are now supporting trades in this new cryptocurrency, with a relatively active market.
Funds at the time of the fork now exist in both ETH and ETC. While we do not have plans to support ETC in the foreseeable future, we understand that some of our members may be interested in supporting this cryptocurrency, so we will be working in the next couple weeks to deliver these ETC amounts to our members.
For the sake of transparency, we would like to let you know that during the first few days after the fork, one of our hot wallets was subject to replay attacks, aimed at misappropriating ETC funds. Our security mechanisms blocked the related activity, but this still resulted in the temporary loss of a small amount of ETC (worth $25,000 at the time of writing). We have since resolved this issue, and have also set aside in cold storage an amount of ETC equivalent to the ETH balances at time of the hard fork, so that this matter has no impact on our members.
We will get in touch with our members in the following weeks with instructions on how to receive the ETC funds equivalent to their ETH funds at the time of the hard fork, and there is no need to contact our support line.
Finally, we ask that no ETC be sent to your ETH addresses at Uphold, as they will not be processed and will ultimately be lost.