BitMEX says the update will not bring a ‘big change’ to its wallet security as the signature scheme is already used for hot withdrawal processing. Cryptocurrency exchange BitMEX is changing all of its customer Bitcoin (BTC) deposit addresses starting Nov.…
BitMEX says the update will not bring a ‘big change’ to its wallet security as the signature scheme is already used for hot withdrawal processing.
BitMEX says the change will allow it to “reduce withdrawal fees” for users and “improve our use of Bitcoin block space.” The company also noted the signature scheme “is already being used for our hot withdrawals processing,” meaning the update “will not bring a big change” to its wallet security.
“There may be rare occasions of delays in the processing of deposits or withdrawals, where their execution may take longer than normal.”
BitMEX
Starting from Jan. 1, 2024, BitMEX will no longer credit funds sent to the old addresses in real-time, adding it will still work with these addresses, but “periodically.” The exchange urged users to update their exchange wallet addresses stored in any address book on other services and whitelist the new addresses.