The Announcement Regarding Hotbit’s Service Recovery Process | Hotbit Announcements

The Announcement Regarding Hotbit’s Service Recovery Process

Dear Hotbit users,

We are back ! Everything will be fine within a week.Thanks for the waiting!

Before fully recovery, please read and pay attention to the following notices carefully:

1.You will be requested to change password after first login to guarantee the security of your account.
2.All of your placed orders have been mandatorily canceled to prevent loss due to market fluctuations.
3.Deposit addresses of all your assets have been changed for security reasons. Please do NOT use your previous deposit addresses again or it will take very long time to get your assets back .
4.If you have deposited any assets into your Hotbit account(s) during 04:00 PM, April 29th, 2021 - 00:00 AM, April 30th, 2021 (UTC), please wait patiently, your deposit will arrive in your account(s) before May 14th; Meanwhile, if you have deposited any assets during the maintenance, your deposit will arrive in your account(s) before May 26th. If you haven't get your transfer on Hotbit account after May 26th , please submit a support ticket to us and our customer service team will register it for you.
5.To prevent the loss caused by holding the positions, all of your leveraged ETF positions have been forcibly liquidated according to the announcement here .
6.Before the resumption of trading services, the estimated price(s) of your asset(s) displayed by the system is (are) incorrect. Please temporarily ignore the wrong numbers, as everything will be normal after trading services being online.

7.The recovery of APP will be slightly later than that of website. Please pay attention to our announcements for further notices.

Below are the schedule came from tech team after lots of discussions. Considering the gigantic size of Hotbit's system and user data, it's possilbe that some services might be unstable at the beginning but it will be solved quickly. Meanwhile, it is also expected that a huge number of users (mainly users of SHIB, DOGE or assets of meme section) may cause system overload as well. Hence, the accurate and detailed time of recovery still depends on actual situations.

04:00 AM , May 10th, 2021 (UTC), Relaunch the functions regarding login, registration, the browsing of assets and data. Meanwhile, we will start the distribution of various types of incomes. Before the recovery of all other services, the accuracy of historical data is the most important factor. Hence, despite the fact that we have finished the verification regarding the data of all historical assets, we still strongly recommend you to check and verify your assets carefully. If you have any concerns or queries, please submit a support ticket to our customer service team for further verification.

04:00 AM , May 12th, 2021 (UTC), Spot trading services for all the assets will be gradually restarted.

04:00 AM , May 13th, 2021 (UTC), After finishing the distribution of various types of incomes including interests, profits of investment section and dividents of cloud mining etc, we will relaunch the service of investment section, including functions like purchase, redemption and asset transfers.

Before 03:00 PM, May 14th, 2021, Gradually relaunch deposit and withdrawal services based on the testing results. BTC, ERC20 and BEP20 will be top priorities. And Considering there are over 100+ mainnets supported by Hotbit, the recovery process regarding the deposit and withdrawal functions of all mainnets may last longer. It is now expected that we will resume all no later than May 21st, 2021 if all other things are fine. We will publish real-time announcements regarding the order and progress of all recovery procedures in our official Twitter and Telegram. And there will be no limitation on the volume of withdrawals for all accounts as Hotbit always supported.

04:00 AM , May 16th, 2021 (UTC), Finish the calculation and liquidation of all assets in leveraged ETF section and relaunch ETF trading service.