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GMO Coin could pause some Bitcoin services during eCash snapshot test

The exchange said any suspension tied to eCash's first balance snapshot at Bitcoin block 963,648, expected around Aug. 23, is conditional, with both start and end times not set.

Reported · Written up by our desk · Market Structure

GMO Coin may suspend parts of its Bitcoin-related services when eCash takes its first balance snapshot at Bitcoin block 963,648, expected around midnight Japan time on Aug. 23, according to a notice reviewed by CryptoSlate.

eCash, a new Bitcoin-derived chain intended to credit holders with a separate ECX asset, has shifted this weekend’s event to an Alpha stage described as issuing practice ECX rather than a final mainnet launch. GMO said the timing of any suspension remains conditional, with start and end times still undecided, leaving customers facing a decision point without a confirmed shutdown.

CryptoSlate reports that the possible scope includes Bitcoin spot trading through GMO’s dealer and exchange services, BTC/JPY crypto FX and leveraged trading, plus BTC deposits and withdrawals. GMO has not clarified whether the Alpha snapshot will trigger a pause, or how long any interruption could last.

The article adds that GMO’s warning remains tied to technical concerns, including the use of the same address formats as Bitcoin with replay protection that is opt-in. GMO also pointed to potential market stress factors, such as volatility and thin liquidity that could widen spreads or contribute to margin calls, and the risk that early chain instability could cause transaction reversals.

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