We are pleased to announce that Bitfinex will support IOTA’s (IOTA) upcoming migration to IOTA Rebased.
IOTA deposits and withdrawals on Bitfinex will be temporarily suspended, approximately 24 hours before the upgrade takes place, which is currently expected to start on or after 05/05/2025 at 06:00 AM UTC. This upgrade time is provided by IOTA, which is only an estimated time and is subject to change.
Bitfinex customers must not send any deposits to our platform after 06:00 AM UTC on 04/05/2025 to avoid losing any funds. IOTA trading will not be affected.
Following the successful completion of the migration, Bitfinex intends to replace the balances of legacy IOTA tokens on the Bitfinex platform with balances of the new IOTA token at a 1:1 ratio (1 legacy IOTA: 1 new IOTA). This conversion rate was specified by the IOTA Foundation. If customers do not wish to have their legacy IOTA token balances replaced with new IOTA token balances, they must withdraw their legacy IOTA tokens prior to the closure of legacy IOTA withdrawals on 04/05/2025 at 06:00 AM UTC.
As part of this migration, all existing IOTA deposit addresses will be discontinued; therefore, customers are required to generate and use new deposit addresses after the upgrade is completed. Any subsequent deposits sent to the old deposit addresses after the deposit closure deadline mentioned above may be lost and unrecoverable.
A separate announcement will be made once the migration to IOTA Rebased has been completed and IOTA deposits and withdrawals have resumed.
Important Note:
This announcement is not an offer to sell or a solicitation of an offer to buy IOTA or any other cryptocurrency. Any purchase or sale of any cryptocurrency on Bitfinex will occur solely pursuant to the Terms of Use for Bitfinex at https://www.bitfinex.com/legal/exchange/terms.
Forward-Looking Statements:
Certain statements in this announcement may be forward-looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.