{"id":67404,"date":"2022-09-20T11:03:28","date_gmt":"2022-09-20T08:03:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67404"},"modified":"2025-09-07T06:27:23","modified_gmt":"2025-09-07T03:27:23","slug":"binance-distributes-ethereum-pow-fork-tokens-to-users","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-distributes-ethereum-pow-fork-tokens-to-users\/","title":{"rendered":"Binance distributes Ethereum PoW fork tokens to users"},"content":{"rendered":"<p>The cryptocurrency exchange Binance distributed Ethereum PoW fork tokens (ETHW) among ETH and <span data-descr=\\\"wrapped version of Ethereum\\\" class=\\\"old_tooltip\\\">WETH<\/span> holders.<\/p>\n<p>\\n\\n<!--more-->\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Binance<\/a> has completed the distribution of <a href=\\\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETH<\/a> Proof-of-Work <a href=\\\"https:\/\/twitter.com\/search?q=%24ETHW&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETHW<\/a> tokens to eligible <a href=\\\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETH<\/a> and <a href=\\\"https:\/\/twitter.com\/search?q=%24WETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$WETH<\/a> holders following the merge.<\/p>\n<p>Deposits and withdrawals for <a href=\\\"https:\/\/twitter.com\/search?q=%24ETHW&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETHW<\/a> are now open, and users can confirm receipt of these tokens in the Distribution page under Transaction History. <a href=\\\"https:\/\/t.co\/Jsg4Uz5Sj6\\\">pic.twitter.com\/Jsg4Uz5Sj6<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\\\"https:\/\/twitter.com\/binance\/status\/1572111227861475328?ref_src=twsrc%5Etfw\\\">September 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>ETHW deposits and withdrawals are now enabled.<\/p>\n<p>\\n\\n<\/p>\n<p>Representatives of the exchange also noted that:<\/p>\n<p>\\n\\n<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>The snapshot for token distribution was taken at block #15,537,393 of the Ethereum network (September 15, 06:42 UTC);<\/li>\n<li>ETHW distribution excludes BETH holders;<\/li>\n<li>Users should ensure that the &#8216;Hide small balances&#8217; option is not selected in the spot wallet section.<\/li>\n<\/ul>\n<p>\\n\\n<\/p>\n<p>As of writing, ETHW is trading at around $7.06. In the last 24 hours, the token price rose by 36.8%, according to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/ethereum-pow\\\">CoinGecko<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>On September 15, a major The Merge upgrade occurred on the Ethereum mainnet. The blockchain successfully switched to the Proof-of-Stake consensus algorithm.\u00a0<\/p>\n<p>\\n\\n<\/p>\n<p>The day before the upgrade, Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-distribute-pow-ethereum-fork-tokens-to-users\">announced<\/a> the distribution of ETHW among ETH and WETH holders at a 1:1 ratio.<\/p>\n<p>\\n\\n<\/p>\n<p>A few hours after The Merge, the Ethereum PoW team <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-pow-fork-developers-could-not-launch-network-immediately\">announced<\/a> the launch of the mainnet, but ran into problems. The network was briefly unavailable; the blockchain explorer did not work.<\/p>\n<p>\\n\\n<\/p>\n<p>Within 24 hours after The Merge, ETHW <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-pow-fork-developers-reveal-mainnet-launch-details\">dropped by 70%<\/a> in market value.<\/p>\n<p>\\n\\n<\/p>\n<p>Cybersecurity firm BlockSec <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-identify-replay-attack-on-ethereum-pow-fork-tokens\">found<\/a> an exploit related to the Ethereum PoW fork.<\/p>\n<p>\\n\\n<\/p>\n<p>According to researchers, the OmniBridge smart contract for Gnosis Chain did not properly verify the chainID parameter. This allowed attackers to obtain an additional 200 ETHW by sending an equivalent amount in WETH.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance distributed Ethereum PoW fork tokens (ETHW) among ETH and WETH holders.<\/p>\n","protected":false},"author":1,"featured_media":67405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,2325],"class_list":["post-67404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-ethw"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67404"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67404\/revisions"}],"predecessor-version":[{"id":67406,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67404\/revisions\/67406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67405"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}