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The creation of deposit addresses is temporarily suspended

Blockchain.io
Blockchain.io

The cryptocurrency exchange of trust for individual and institutional traders and investors.

► UPDATE 09/09/2020 : Issue solved. Find out more.

Since two weeks, the UCO Token is available on Blockchain.io. We were pleased to note that many of you were interested to invest in this asset. Almost 10 million UCO have already been traded, and account creations have increased tenfold over the period.

That would just be wonderful, but an unexpected turn of events has occurred.

The Ethereum blockchain got saturated.

Lately, the Ethereum blockchain has experienced an unprecedented surge of transaction requests, mostly due to the success of the DeFi (decentralized services based on the blockchain). As a result, the price of gas, which is used to pay Ethereum transactions, also reached record levels.

Each transaction and wallet creation has a cost. Today (08/21/20), the cost of one single wallet created on the Ethereum blockchain was 0,079 ETH (approx. 26.9€). In order to offer you the lowest fees on the market, this cost is at our full expense and puts our economic model under unbearable stress. In addition, this situation affects your experience in a number of ways:
- Transaction execution time can be long (up to a few hours).
- Wallet generation time can be long (up to few hours).

Please, bear in mind that this situation could not have been anticipated nor solved technically, as it is outside of the scope of Blockchain.io.

Our team and our partners are fully mobilized.

The successful launch of the UCO is happening precisely in this period, which is unique in the history of the Ethereum blockchain.

Blockchain.io can no longer afford the cost of transactions on the Ethereum blockchain on its own. Consequently, we are forced to momentarily pause the creation of all wallets available on the platform. In addition, the creation of new user accounts on Blockchain.io is also suspended.

Users with existing wallets still can trade their assets and make deposits and withdraws.

We are currently working with all our partners such as Bitgo, and Uniris to solve this issue as quickly as possible. We will keep you informed of any developments.

Your funds are safe.

ll your funds are perfectly safe. Security is not affected in any aspect by the situation described above.

Our other exchange, Paymium, is not affected by the situation as it doesn't run on the Ethereum blockchain.

Our action is an emergency. In line with our values, we are eager to expose you the situation with honesty and transparency. If you need more assistance, please contact our support team.

We thank you sincerely for your support during the time needed to fix this situation.

We'll keep you informed on our social networks (follow us on Twitter and Telegram) and by email.

The Blockchain.io Team

Blockchain.io
Blockchain.io

The cryptocurrency exchange of trust for individual and institutional traders and investors.

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