Poloniex Preparing for an Exit Scam! DO _NOT_ SEND COINS THERE!

[ulhaq]

This is huge news. How is it going to affect poloniex? They were shrouded in mystery, but Circle is a very public company, and registered. I imagine that they are really going to focus on their customer service.

[LeonardoDiCrypto]

First: Why don't you verify your account with 2FA? They already said that your limit is 2K$ without verifying.
Second: If you don't want to verify your account, just keep withdrawing smaller amounts each day, like equal to $1950 per day till all your funds are withdrawn.
I know there will be higher fees with the second option, but that is the fee you're paying to not verify your account.

I have recently withdrawn using the second option and I have received bitcoin funds quite quickly without any hassle.

You obviously didn't read any of my reply posts. I have a legacy account that is verified. I do have 2-FA turned on. But its unnecessary because they require that you provide a code sent via email to you in order to log in in the first place. I wasn't trying to withdraw over $2000 at one time -- they kept a ton of my NEM without sending it, and now they are keeping an equal value of my BTC.

Goody goody for you. I'm so happy for you that Polo hasn't scammed you yet. Meanwhile I'm living in a mosquito-ridden AirBnB in the middle of provincial Philippines because I can't get my money out of Polo. I can't sleep, I can't concentrate on work, I barely even get internet here. This sucks. They are wasting my life away for no discernible reason. So I have every right to call them out on their criminal behavior until they do the right thing and release my funds.

Like I said, I've been a customer with them for almost 4 years. And now this, out of the blue. With no explanation. But go ahead and keep using Polo, if you're a fool.

Maybe they froze your account because you tried to access it from the Philipines instead of the US (which appears to be where you are from)? Did you get a response yet?

Last year they had frozen my account since I had accessed it from a country that Uncle Sam didn't like. It took me over one month to get back access. Now Poloniex has been acquired by a company backed by Goldman Sachs, so no exit scam in preparation.

[toolsmans]

very strange. Maybe there were some problems with the verification and you fell under the ban?

[nutildah]

Here's how the Polo scam goes:

1. A coin listed on Polo skyrockets.
2. Polo disables coin withdrawals for that coin, under the guise of "wallet maintenance issues." (though deposits continue to work just fine )
3. Polo sells your coins on a different exchange.
4. The coin plummets back down to earth.
5. Voila! Suddenly Polo's wallet maintenance issues for the coin are conveniently resolved.
6. Polo buys back your coins at a cheap price and reimburses them to your account, pocketing the difference.

Polo is basically short-selling your coins whenever one of their wallets goes offline.

I've watched this happen too many times over the last 4 years to believe anything else.

Perhaps now that they are a part of Circlejerk they will behave more ethically, but I doubt it.