Topic: Poloniex's taking money from its customers to cover its loss - page 7. (Read 2558 times)
i heard some victims were blocked by polo because their over-emotional conversations with support
I've found a willing lawyer if there are people interested, but the status of the case will depend of the number of victims...
I think we should hire american lawyer to represent our interests
I strongly believe It wasn't just a shitcoin collapse but a fraud and Poloniex was a tool. I can show it with a numbers
I strongly believe It wasn't just a shitcoin collapse but a fraud and Poloniex was a tool. I can show it with a numbers
We have one problem, and it's a big problem. There's not enough of us. 1,800 BTC have been seized and that's huge, so there should be many of us with the same problem. I created this topic to find other victims, where are they?
If you've been a victim of Poloniex in this affair, please participate in this topic.
One thing I forgot to ask, have you ever owned any CLAM?
That's the big idea, I've never owned any CLAM so I should not suffer from that sh*tcoin's collapse.
Anyhow, things won't be easy. We're in different countries, and Poloniex is in America.
That's the big idea, I've never owned any CLAM so I should not suffer from that sh*tcoin's collapse.
Anyhow, things won't be easy. We're in different countries, and Poloniex is in America.
CLAM was airdropped to all bitcoin holders. I redeemed it and sold immediately at another exchange years ago.
I think we should hire american lawyer to represent our interests
I strongly believe It wasn't just a shitcoin collapse but a fraud and Poloniex was a tool. I can show it with a numbers
Is there some lenders club who negotiating with the exchange, preparing lawsuit etc?
How can I join?
How can I join?
Can you please answer the following questions:
Did you have 16% of the money in your lending wallet seized on June 6th? yes
Did you get about 10% back on June the 14th? yes
Have you been exchanging with Poloniex already? i've go some clarification from support team
Are you a US citizen? no
Where do you live? (I'm based in central Europe). russia
One thing I forgot to ask, have you ever owned any CLAM?
That's the big idea, I've never owned any CLAM so I should not suffer from that sh*tcoin's collapse.
Anyhow, things won't be easy. We're in different countries, and Poloniex is in America.
Is there some lenders club who negotiating with the exchange, preparing lawsuit etc?
How can I join?
How can I join?
Can you please answer the following questions:
Did you have 16% of the money in your lending wallet seized on June 6th? yes
Did you get about 10% back on June the 14th? yes
Have you been exchanging with Poloniex already? i've go some clarification from support team
Are you a US citizen? no
Where do you live? (I'm based in central Europe). russia
my mail is stormos at gmail
Is there some lenders club who negotiating with the exchange, preparing lawsuit etc?
How can I join?
How can I join?
Can you please answer the following questions:
<>
Are you a US citizen?
<>
Is there some lenders club who negotiating with the exchange, preparing lawsuit etc?
How can I join?
How can I join?
Can you please answer the following questions:
Did you have 16% of the money in your lending wallet seized on June 6th?
Did you get about 10% back on June the 14th?
Have you been exchanging with Poloniex already?
Are you a US citizen?
Where do you live? (I'm based in central Europe).
Is there some lenders club who negotiating with the exchange, preparing lawsuit etc?
How can I join?
How can I join?
Having lived through a few "socialised losses" over the years, I remain somewhat sceptical. That initial ~10% could represent the easiest funds to recover from overdrawn accounts, or perhaps a portion of Poloniex's reserves/operating funds.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
With Poloniex?
I think I've had some money in my lending wallet at Poloniex continuously since mid 2016. I had never experienced any "socialized loss". Do you think I was lucky? Anyway, I'm still missing 90% of the 16% Poloniex seized from my account, and that's substantial money. So I'm not so lucky...
I've been affected by losses at mtgox, Vircurex, bter, Cryptsy, Cryptopia, etc. Some are fairly absolute (such as Cryptsy abruptly going out of business) but others have been some event (such as a hack) which resulted in "haircuts" being applied to customer balances.
So I was speaking generally about past events with other exchanges, not specifically Poloniex. Sorry for not making that clear.
OK, thanks.
I've always been very, very cautious about choosing exchanges.
I've used Poloniex, Bitfinex, Binance and Kraken. That's it.
And I've never had any bad experiences, besides a few delays when making deposits or withdrawals.
Poloniex was my first bad experience (after several good years)! And I hope the last...
Having lived through a few "socialised losses" over the years, I remain somewhat sceptical. That initial ~10% could represent the easiest funds to recover from overdrawn accounts, or perhaps a portion of Poloniex's reserves/operating funds.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
With Poloniex?
I think I've had some money in my lending wallet at Poloniex continuously since mid 2016. I had never experienced any "socialized loss". Do you think I was lucky? Anyway, I'm still missing 90% of the 16% Poloniex seized from my account, and that's substantial money. So I'm not so lucky...
I've been affected by losses at mtgox, Vircurex, bter, Cryptsy, Cryptopia, etc. Some are fairly absolute (such as Cryptsy abruptly going out of business) but others have been some event (such as a hack) which resulted in "haircuts" being applied to customer balances.
So I was speaking generally about past events with other exchanges, not specifically Poloniex. Sorry for not making that clear.
Having lived through a few "socialised losses" over the years, I remain somewhat sceptical. That initial ~10% could represent the easiest funds to recover from overdrawn accounts, or perhaps a portion of Poloniex's reserves/operating funds.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
With Poloniex?
I think I've had some money in my lending wallet at Poloniex continuously since mid 2016. I had never experienced any "socialized loss". Do you think I was lucky? Anyway, I'm still missing 90% of the 16% Poloniex seized from my account, and that's substantial money. So I'm not so lucky...
Alleluia!
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
Having lived through a few "socialised losses" over the years, I remain somewhat sceptical. That initial ~10% could represent the easiest funds to recover from overdrawn accounts, or perhaps a portion of Poloniex's reserves/operating funds.
At least they seem to be repaying in BTC - like for like - rather than some internal token which has its value fixed to the exchange rate on the day of the event.
Thank you everyone for your support.
It's only a small victory, though. Poloniex has only reimbursed me 10%...But at the very least, with this they acknowledge that what they did was not correct.
It's only a small victory, though. Poloniex has only reimbursed me 10%...But at the very least, with this they acknowledge that what they did was not correct.
not to mention that Poloniex was once number one exchange before they were bought by Circle 
Polo went downhill before Circle jumped in. During the spring and summer of '17 with the influx of new user registrations, they completely went to pot. Trade engine was lagging, you couldn't get verified to get your money out, no response from CS for months if ever. It was this that lead to the exodus of OG traders.
Alleluia!
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
glad to hear it. i was amazed they left lenders in the lurch and am glad to see they've seen the error of their ways. screw over your lenders like that and liquidity will suffer!
I don't quite understand this, they have faulty lending system but make their customers pay the losses?
so was the clam price artificially pushed high to exploit this opportunity?
or it was just simply a coincidence sudden price crash caused this
so was the clam price artificially pushed high to exploit this opportunity?
or it was just simply a coincidence sudden price crash caused this
it was poloniex's fault, exacerbated by dumb borrowers margin longing shitcoins with no liquidity. they allowed buyers to build leveraged positions much larger than actual market liquidity could support. then came a flash crash that wiped everyone out. borrowers were heavily in default and poloniex refused to cover those losses. seems like they are changing their minds now.
Another nail in the coffin for Poloniex. Circle must be really kicking themselves now for this acquisition.
the Circle team are probably the worst people in the whole world handling business. they have no idea what they are doing and in all these years they have not even gained smallest experience whatsoever. i remember a couple of years ago they even attacked bitcoin and blamed it for their failed business and losses! not to mention that Poloniex was once number one exchange before they were bought by Circle
Clam's crypto-crash was on May the 26th, but Poloniex took money from its customers on June the 6th. For 10 days, they had covered the loss. And I didn't even knew that the Clam crypto-crap had crashed. Then, suddenly, Poloniex changed its mind, and decided to make their customers pay.
I don't quite understand this, they have faulty lending system but make their customers pay the losses? so was the clam price artificially pushed high to exploit this opportunity?
or it was just simply a coincidence sudden price crash caused this
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
I am guessing Poloniex sent some kind of demand to customers who have negative equity to repay the negative equity and some customers repaid, totaling about 180 btc. Poloniex possibly has some kind of legal reserve in case some customers sue it in relation to this incident, and this risk would be removed once they repay all their lenders, so they may not need customers to repay 100% of their negative equity. It's great, great relief, even if I'm still waiting for the remaining 90%.
Alleluia!
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
Things are getting better.
The dates are as follows.
May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."
It's great, great relief, even if I'm still waiting for the remaining 90%.
Jump to: