Poloniex's taking money from its customers to cover its loss - page 4.

Smokey23

jr. member

Activity: 191

Merit: 7

Thanks for your efforts and for making this thread. Like you, my losses are also not enough to warrant spending legal costs, however I would be happy Huh

to be part of a group of creditors waiting in line to be paid back my own money. Couldn't find the telegram group - post a link?

Maybe a #hashtag campaign will stir up some action - #poloniextheft #poloniexcrooks #poloniexscam (my suggestions).

You can share my tweet too across any relevant groups: https://twitter.com/KryptoRevivaL/status/1160769662533029888

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: Smokey23 on August 09, 2019, 10:29:44 PM

Well I too was a victim of this debacle at Poloniex. Have only been re-imbursed 10% so far and am still scratching my head as to how the fuck a company like Circle is still running Poloniex as shadily as it ran before the Circle acquisition.

Why isn't there is class action lawsuit yet?
https://www.theblockcrypto.com/2019/06/06/poloniex-could-leave-itself-open-to-legal-threats-by-socializing-1800-btc-loss/

Perhaps a tweet storm to the following may stir up something?
https://twitter.com/jerallaire
https://twitter.com/psneville

Thanks for joining this topic.

A class action would be nearly impossible because of Poloniex's terms. Litigation is coming, but it's really expensive. Only those who have lost a lot will do it. For the others like me, the best option remains to damage even more this exchange's reputation.

Campaign on Twitter are being done, see the "Poloniex Lending Theft" group on Telegram to find out the schedule.

Smokey23

jr. member

Activity: 191

Merit: 7

Well I too was a victim of this debacle at Poloniex. Have only been re-imbursed 10% so far and am still scratching my head as to how the fuck a company like Circle is still running Poloniex as shadily as it ran before the Circle acquisition.

Why isn't there is class action lawsuit yet?
https://www.theblockcrypto.com/2019/06/06/poloniex-could-leave-itself-open-to-legal-threats-by-socializing-1800-btc-loss/

Perhaps a tweet storm to the following may stir up something?
https://twitter.com/jerallaire
https://twitter.com/psneville

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Poloniex is rated at TrustPilot. Usually, I don't give much credit to those ratings, but everything there is true.

https://www.trustpilot.com/review/poloniex.com

Please add your rating if you're another victim like me.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: figmentofmyass on August 03, 2019, 06:26:12 PM

Quote from: PrimeNumber7 on August 03, 2019, 01:52:02 PM

Quote from: Csmiami on July 30, 2019, 12:09:48 PM

Quote from: Artemis3 on July 30, 2019, 11:12:17 AM

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal.

In the meantime, what better alternatives are there for lending bitcoin?

You were lucky, I know some guys that deposited after the balance deduction, and still got robbed.

You can still lend on Bitfinex, Liquid, Celcius, Nexo...

Bitfinex doesn’t allow US customers. I believe you can lend on all the other platforms you mentioned.

neither of them are from the USA so they're fine. unless things have changed recently, you don't need KYC to do margin lending on bitfinex anyway so i'm sure americans are still sneaking by with VPN.

i would say bitfinex is the only lending market with thick enough order books to justify the default risk. lending anywhere else is straight up crazy. just look at what happened at poloniex---and the other markets are even thinner than polo.

Being a victim here, I should not believe in lending any longer, but I still believe it could work if exchanges were better managed. I mean that there should be no margin trading on small sh*tcoins, that in all cases margin trading should be volume-limited, and that there should be circuit breakers, like on the stock market, where all trading can come to a halt in case of excessive volatility.

Frankly, a lot could be done to make trading and lending much safer that now.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: PrimeNumber7 on August 03, 2019, 01:52:02 PM

Quote from: Csmiami on July 30, 2019, 12:09:48 PM

Quote from: Artemis3 on July 30, 2019, 11:12:17 AM

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal.

In the meantime, what better alternatives are there for lending bitcoin?

You were lucky, I know some guys that deposited after the balance deduction, and still got robbed.

You can still lend on Bitfinex, Liquid, Celcius, Nexo...

Bitfinex doesn’t allow US customers. I believe you can lend on all the other platforms you mentioned.

neither of them are from the USA so they're fine. unless things have changed recently, you don't need KYC to do margin lending on bitfinex anyway so i'm sure americans are still sneaking by with VPN.

i would say bitfinex is the only lending market with thick enough order books to justify the default risk. lending anywhere else is straight up crazy. just look at what happened at poloniex---and the other markets are even thinner than polo.

PrimeNumber7

copper member

Activity: 1652

Merit: 1901

Amazon Prime Member #7

Quote from: Csmiami on July 30, 2019, 12:09:48 PM

Quote from: Artemis3 on July 30, 2019, 11:12:17 AM

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal.

In the meantime, what better alternatives are there for lending bitcoin?

You were lucky, I know some guys that deposited after the balance deduction, and still got robbed.

You can still lend on Bitfinex, Liquid, Celcius, Nexo...

Bitfinex doesn’t allow US customers. I believe you can lend on all the other platforms you mentioned.

If you lend on any platform, you run the risk of the loan not being repaid. Most exchanges will not guarantee repayment and disclose that traders may have insufficient equity to cover the loan plus interest.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: Artemis3 on July 30, 2019, 11:12:17 AM

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal. I didn't knew anything like this was happening, and its quite unprofessional of theirs when its clearly their fault for messing with clam.

If i understand correctly you were taken 16% of your total BTC lending amount and from that only 10% was returned back? And you already gave up and turned to litigation?

I though no American could lend anything there after last December, and i did saw an American account this year distinctly missing the lending tab.

In the meantime, what better alternatives are there for lending bitcoin?

I suggest you give up lending if you're not following the news. You began right after Poloniex stole its customers, at the very moment everybody was leaving, it was a very risky move.

Csmiami

copper member

Activity: 1652

Merit: 1325

I'm sometimes known as "miniadmin"

Quote from: Artemis3 on July 30, 2019, 11:12:17 AM

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal.

In the meantime, what better alternatives are there for lending bitcoin?

You were lucky, I know some guys that deposited after the balance deduction, and still got robbed.

You can still lend on Bitfinex, Liquid, Celcius, Nexo...

Artemis3

legendary

Activity: 2030

Merit: 1569

CLEAN non GPL infringing code made in Rust lang

I put some BTC into lending there in June but it was way past the 6th. By July everything was moved out, it got some gains, but everything went normal. I didn't knew anything like this was happening, and its quite unprofessional of theirs when its clearly their fault for messing with clam.

If i understand correctly you were taken 16% of your total BTC lending amount and from that only 10% was returned back? And you already gave up and turned to litigation?

I though no American could lend anything there after last December, and i did saw an American account this year distinctly missing the lending tab.

In the meantime, what better alternatives are there for lending bitcoin?

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: squatter on July 30, 2019, 02:57:39 AM

Any update from Poloniex? Have they even said anything since the 10% repayment? Hearing crickets at this point is bad news. It probably means they really were banking on borrowers making deposits to cover the losses. As if that were ever going to happen...

Sadly, no. They've taken no money without showing any guilt, and it seems they have no plan to pay back. So please keep this topic active, and spread the world. If you're looking for a safe place to trade, this should not be Poloniex (or Circle).

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: countryfree on July 29, 2019, 04:29:28 AM

Another interesting topic about Poloniex:

https://bitcointalksearch.org/topic/is-poloniex-still-safe-to-use-in-2019-5168204

Or just another reason not to use that exchange, and to let it die.

Any update from Poloniex? Have they even said anything since the 10% repayment? Hearing crickets at this point is bad news. It probably means they really were banking on borrowers making deposits to cover the losses. As if that were ever going to happen...

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Another interesting topic about Poloniex:

https://bitcointalksearch.org/topic/is-poloniex-still-safe-to-use-in-2019-5168204

Or just another reason not to use that exchange, and to let it die.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: gentlemand on July 22, 2019, 06:08:03 PM

In other news - https://www.coindesk.com/circle-moves-non-us-poloniex-customers-to-new-bermuda-entity

Thanks for info, I'm not reading coindesk that often, but I can't believe what I'm reading:

Quote

“The lack of regulatory frameworks significantly limits what can be offered to individuals and businesses in the U.S.”

So they're moving to Bermuda! Is there a better regulatory framework out there?
I highly doubt it. The only reason to go offshore has always been to escape tax, corporate responsability or consumer protection regulations.

If you think your money isn't safe in Poloniex in America, as I do, it's certainly not going to be any better in Bermuda.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: countryfree on July 22, 2019, 03:48:56 AM

Poloniex 's really sinking.

They're down to the 79th position on https://coinmarketcap.com/rankings/exchanges/

But I'm not surprised. When you steal your customers, nobody wants to do business with you.

Kind of meaningless when there are so many bullshit exchanges out there.

They're only 10 places below Gemini and five below Itbit and they probably believe they're in competition with them rather than one Indonesian 9yr old and his bots.

In other news - https://www.coindesk.com/circle-moves-non-us-poloniex-customers-to-new-bermuda-entity

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Poloniex 's really sinking.

They're down to the 79th position on https://coinmarketcap.com/rankings/exchanges/

But I'm not surprised. When you steal your customers, nobody wants to do business with you.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Bitpoint shows it's a better exchange than Poloniex:

https://cointelegraph.com/news/bitpoint-reveals-amounts-stolen-pledging-to-reimburse-users-in-crypto

After a theft, it says it will reimburse all its customers.
So you'll know which exchange to use, now...

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: gentlemand on July 15, 2019, 04:19:39 AM

I wonder what their game plan is. It's clear the public has little intention of coming back.

So true! I've lost more than 1BTC, I won't ever forget. And Poloniex can count on me to keep on telling others about what they did (and I'm not alone). they've invested to launch new services, but it would be smarter to pay back what they've taken from their clients.

arewethereyet?

member

Activity: 69

Merit: 11

Quote from: gentlemand on July 15, 2019, 05:10:21 AM

Quote from: arewethereyet? on July 15, 2019, 05:07:32 AM

+ put a gun to your head for your ID, before your tokens will be yours again. Thieves.

Is this for coins that have been left in there for years before it was sold or does it relate to a more recent deposit?

Anyone expecting that to not be the case hasn't been paying attention for a long, long time.

Talking about Tristan/Polo officially stating that the now sold company, will give fair warning if/when new rules come into play. Well, that didnt happen.....

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: arewethereyet? on July 15, 2019, 05:07:32 AM

+ put a gun to your head for your ID, before your tokens will be yours again. Thieves.

Is this for coins that have been left in there for years before it was sold or does it relate to a more recent deposit?

Anyone expecting that to not be the case hasn't been paying attention for a long, long time.

Topic: Poloniex's taking money from its customers to cover its loss - page 4. (Read 2558 times)