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Topic: speculation: poloniex insolvent (Read 920 times)

hero member
Activity: 546
Merit: 500
June 12, 2017, 12:19:43 PM
#8
All they have to do is look at two documents that I sent to them, which should take about 5 seconds, and that's it. But 2 weeks and not a word from them.
You really have bunch of money that even daily limit on level 2 doesn't fit you. Take that slow process while waiting for Poloniex to response. No problem as long as you can withdraw.
Poloniex has the biggest trading volume of any Bitcoin or altcoin exchange in existence.  The 24 hour trading volume on Poloniex (as of this post), is $911,000,000.  With their static fee of 0.2%, they should be raking in nearly 2 million dollars in fees per day, which would result in several hundred millions in revenues in a year if this volume continues.

When that's the kind of volume you're talking about, hiring staff is the first thing you should do.  If you don't, you're just a shady exchange.

They could be doing anything with your funds when you're not withdrawing them, and it's pathetic that they can't sort out these issues within a couple of weeks if they're vaguely competent.
legendary
Activity: 2940
Merit: 1083
June 12, 2017, 11:31:36 AM
#7
All they have to do is look at two documents that I sent to them, which should take about 5 seconds, and that's it. But 2 weeks and not a word from them.

What if you are on 10,000th quoue?

Don't mind the numbers. Just giving you some possible scenarion that not only your ticket are being sent to them and it counting everyday. They can't handled much the volume of queries that's why there are late responses or the worst thing, being ignored. Send them multiple queries so that we can expect that you have a fresh ticket.

I have been waiting for over 2 weeks for my level 3 verification from poloniex, so that I can increase my withdrawal limit.

You really have bunch of money that even daily limit on level 2 doesn't fit you. Take that slow process while waiting for Poloniex to response. No problem as long as you can withdraw.
hero member
Activity: 2016
Merit: 721
June 12, 2017, 11:21:48 AM
#6
I'm experiencing the same problem with Kraken, although it's been like 2 months and no answers. At the beginning they still replied my emails but now not even anymore. So I'm switching to trading on Bitstamp, where they did the same verification in just a few days. I'm not giving up on Kraken, but temporarily I'm a little pissed off and I'm not planning on trading there again until they at least reply my last email, sent a couple weeks ago (and which was already asking for a reply for once of my earlier emails that they had already been ignoring for a month).
legendary
Activity: 1526
Merit: 1179
June 12, 2017, 04:28:18 AM
#5
Every exchange is struggling with the increased demand. I helped somone close to me to get himself verified at Bitstamp last month, and it took 10 working days to complete.

Poloniex has less staff to work with, and thus things may take longer to settle. I understand that it is annoying, but there isn't anything other that you can do than just having patience.
hero member
Activity: 778
Merit: 500
June 12, 2017, 03:11:46 AM
#4
No. They just don't have the required manpower to handle all the new requests.

That's correct even with the trollbox moderators assigned to tickets it will take some time to learn those guys how to handle tickets. Just give them some weeks.

P.S. You do now they earned millions on fees a day right.
hero member
Activity: 528
Merit: 527
June 12, 2017, 03:10:56 AM
#3
Level 2 gives you $7000 per day, that is $210,000 per month, $2,555,000 per year. If that is your worst problem in life...just be happy.
legendary
Activity: 1473
Merit: 1086
June 12, 2017, 02:30:20 AM
#2
No. They just don't have the required manpower to handle all the new requests.
TLW
newbie
Activity: 7
Merit: 0
June 11, 2017, 10:11:34 PM
#1
I have been waiting for over 2 weeks for my level 3 verification from poloniex, so that I can increase my withdrawal limit. Two weeks and I have heard nothing. I have sent multiple messages through their support ticket system and have had no response. All they have to do is look at two documents that I sent to them, which should take about 5 seconds, and that's it. But 2 weeks and not a word from them.

So this has me wondering ... could poloniex be the next mtGox? Could it be they have been hacked? Could it be they are insolvent? Could it be they are dragging their feet on verification bc they don't have enough funds to cover everyone's withdrawals?

Anyone else having this problem?
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