I'll remember June 6th. Exactly 6 months ago.

That day, Poloniex stole 1,800 BTC from its customers, and I was one of them.
We got about a tenth back, and then nothing.

The company acknowledged it did wrong, and promised we would all get all our money back, but we're still waiting.

And yet, many things have changed.
Poloniex has moved twice, first to the Carribbean, then to the Seychelles.

The company has been split. Part of it will be renamed Polo Digital Assets for US customers, and it's still owned by Circle, while another part, the part which deals with non-US customers has been bought by Justin Sun, which then bought Tron Network’s Biggest Non-Custodial Exchange. That new company will give service under the name of PoloniDex (if I've understood it right).

I don't know who is that Justin Sun guy, but if he's honest, the first thing on his agenda should be to correct Poloniex's image problem, which is down the hole since the company stole its customers.

Mr Sun, do you hear me?

That won't change anything.

All Swiss banks make outgoing and incoming € transfers. Most of them for free.

Who is paying?

You, or the people asking questions?

I don't like websites which ask you to register before being able to find out what they offer.

Correct, and if he doesn't want to reveal who he is, we will never know. Secrecy is at the roots of all Seychelles companies.

We may also question the existence of that Asian investment group. As of today, there's nothing to prove it's real.

Note also that if there's an issue, it's incredibly difficult to use a company in the Seychelles.

Worse than that, Poloniex's terms requires you to agree that you shall not sue them...

It's been 5 months since Poloniex stole millions from its customers. That was a big step on the way of its downfall, and the Poloniex team has just moved even further to the end of the cliff.

Poloniex was famously headquartered in Boston, Massachusetts, which is a good place to do business, with serious regulations, it has moved to the Seychelles islands.

Of all offshore centers, the Seychelles are probably the worst. Sure, it's one of the easiest. Anyone can create a company or open a bank account there, and make big deposits with no question asked, but it's impossible to get the money back afterwards. If you're a freelance programmer working in Europe, nobody will give you any kind of work if you want payments made to a bank in the Seychelles. Also, if you have money in the Seychelles and you want to buy property in Europe, it won't work either. Money coming from the Seychelles is seen as money coming from drug dealers or the like. The Seychelles are known worldwide as a money laundering place. If you want to stay clean, there's only one thing to do: avoid doing any business or investment there. So, avoid Poloniex...

Not wanting to be all negative, the Seychelles is probably a good place for a vacation.

I've received a new email earlier today:

Reminder: Poloniex to Spin Out of Circle


So they're incredibly excited, but I'm not!
The one and only thing which would make me cheer up would be that the new Polo Digital Assets would pay back what Poloniex stole from me and thousands of other innocent people.

Note also that they're still hiding the name of the major Asian investment group which came to their rescue. If everything was neat and clear, there would be no reason to hide their name...

I still recommend to stay away from Poloniex, or Polo Digital Assets.

I like newbies who already have so many BTC they can afford a property.

The software is still good. Poloniex's website remains one of the easiest to trade BTC and altcoins.

I guess the new owners (if there are new owners) must be very open, publishing pictures and bios of everybody working for the company. A video of the staff replying to customers would also help. Of course, the beginning would be to pay back what the company has stolen under the old management...

Money IS backed by happiness.
The more money I have, the happier I am.

One thing which surprises me is that Circle would be giving up on all non-US customers. That's a lot of folks!

Circle would remain an American company serving American people, but the people behind Circle could remain shareholders of a new company serving customers from the rest of the world.

Good! Very Good!

Liechtenstein is one of the best places in the world to do business. Safety, secrecy, Liechtenstein has it all, but it's not a cheap place to do things. It's a very expensive place to live.

Well, I guess that if someone wants to start a new exchange, it might be a better idea to buy Poloniex than start from scratch...

Yes, independent company but the original shareholders may still have a part of it.

$100 million to buy the platform is very possible. So Circle, which bought Poloniex $400 million would have lost $300 million. Ouch!

I guess that if Poloniex really does have new owners, they will make themselves known soon. If there are no news, it will mean the same people will remain in control.

No, not him. He denied the whole thing.

https://cointelegraph.com/news/im-not-buying-anything-says-tron-ceo-amid-reports-of-poloniex-acquisition

So, who else?

I'm surprised Ethiopia is in the list. This country is trying hard to get better. And its leader just received a Nobel prize!

The other countries are known to be difficult to bank with.

We still aren't sure of what's happening. There are many questions.

1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company?
2/ Those mysterious Asian investors, do they actually control the new company?
3/ 100 million $ new investments! Really? What for?

... To be continued...

I've received the email, and as an old Poloniex customer, I have the suggestion to make to the new owners: they should pay what they've stolen to their customers!

I'm not totally sure Poloniex has a new owner, though. Could be the same guy. He couldn't find any investor in the US, but he found one in Asia? I'm waiting for more information.

One thing for sure: nobody will miss Circle.

Only fools are surprised. I've never shopped at amazon and I won't ever.
Supermarkets are doing the same. The products at the best height on their shelves are the ones which give the highest profits, while the best deals are always close to the floor.

Thanks for your support.