Class action lawsuit for Poloniex

[poloshit]

Hundreds and possibly thousands of people have been burned in recent weeks on Poloniex.

In the past 4 weeks many people have lost thousands of dollars every time the action starts heating up on Poloniex. Many of you have been dealing with Poloniex lagging and unresponsive server issues for the past 4 weeks. It seems quite strange to me how every time there is big movements in the markets on Poloniex, their servers start acting up.

I would like to establish this thread as place for Poloniex users who have absorbed financial loss as a direct result of Poloniex lagging and unresponsive server issues.  Once we get enough people together it will force Poloniex to take its users seriously once they know its users are joining together to file a class action law suit. If we can get enough people together Poloniex will be forced to take notice and correct the issues.

Lets hear your thoughts .... if people are interested than lets discuss and determine the next steps.

[amacar2]

I am also experiencing lots of lag on poloniex lately but i don't know how much i have actually lost due to it. During large pump & dumps it is quite hard to manually place orders there. They need to upgrade their servers to handle very high traffic without lagging.

[Quartx]

You just reminded me, I need to file a class action lawsuit against life for making retards exists in this world. I have to absorb the brain drain every single time nonsensical threads like this get started on bitcointalk.

Just because the server lags badly during massive pumps and dumps and you fail to join in to make profits does not make a valid reason to file a class action. Then again, if you are from certain countries, I am not amused at all, you guys file nonsense lawsuits like no one cares.

[pedrog]

You just reminded me, I need to file a class action lawsuit against life for making retards exists in this world. I have to absorb the brain drain every single time nonsensical threads like this get started on bitcointalk.

Just because the server lags badly during massive pumps and dumps and you fail to join in to make profits does not make a valid reason to file a class action. Then again, if you are from certain countries, I am not amused at all, you guys file nonsense lawsuits like no one cares.

Great stuff.

Also, I don't think they even read the terms of service:

20. DISCLAIMER OF WARRANTEES
POLONIEX PROVIDES NO GUARANTEE AS TO THE PERFORMANCE OR THE UNINTERRUPTED AVAILABILITY OF THE SERVICES. THE SERVICES ARE PROVIDED ON AN "AS IS," "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. POLONIEX DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT WITH RESPECT TO THE SERVICES. POLONIEX DOES NOT REPRESENT OR WARRANT THAT THE SERVICES AND THE INFORMATION CONTAINED THEREIN ARE ACCURATE, COMPLETE, RELIABLE, CURRENT OR ERROR-FREE. POLONIEX WILL MAKE REASONABLE EFFORTS TO ENSURE THAT TRANSACTIONS ON THE PLATFORM ARE PROCESSED IN A TIMELY FASHION, BUT MAKES NO REPRESENTATIONS OR WARRANTIES WITH RESEPCT TO THE AMOUNT OF TIME NEEDED TO PROCESS SUCH TRANSACTIONS. BECAUSE CRYPTOCURRENCY TRANSFERS ON AND OFF THE PLATFORM ARE DEPENDENT UPON MANY FACTORS OUTSIDE OF OUR CONTROL, POLONIEX MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE SUCCESS OF, OR THE AMOUNT OF TIME NEEDED FOR, CRYPTOCURRENCY TRANSACTIONS.

SOME JURISDICTIONS DO NOT ALLOW THE DISCLAIMER OF IMPLIED TERMS IN CONTRACTS WITH CONSUMERS, SO SOME OR ALL OF THE DISCLAIMERS IN THIS SECTION MAY NOT APPLY TO YOU.

21. LIMITATION OF LIABILITY
TO THE MAXIMUM EXTENT PERMITTED BY LAW, POLONIEX SHALL HAVE NO LIABILITY FOR ANY DAMAGES OF ANY KIND (INCLUDING WITHOUT LIMITATION INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR TORT DAMAGES, OR LOST PROFITS) IN CONNECTION WITH YOUR USE OF THE SERVICES, EVEN IF POLONIEX HAS BEEN ADVISED OR IS AWARE OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WILL POLONIEX’S LIABILITY FOR MONEY DAMAGES UNDER THESE TERMS EXCEED THE AMOUNT OF FEES RECEIVED FROM YOU DURING THE PRECEDING SIX (6) MONTH PERIOD.

22. APPLICABLE LAW AND VENUE
These Terms and your use of the Services will be governed by and construed in accordance with the laws of New York, without resort to its conflict of law provisions. You agree that any action at law or in equity arising out of or relating to these Terms not subject to arbitration (as set forth below), will be filed only in the state courts of Tompkins County, New York or the Federal Courts of the Northern District of New York. You hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such courts over any suit, action or proceeding arising out of these Terms.

https://poloniex.com/terms/

[zahra4577]

Hundreds and possibly thousands of people have been burned in recent weeks on Poloniex.

In the past 4 weeks many people have lost thousands of dollars every time the action starts heating up on Poloniex. Many of you have been dealing with Poloniex lagging and unresponsive server issues for the past 4 weeks. It seems quite strange to me how every time there is big movements in the markets on Poloniex, their servers start acting up.

I would like to establish this thread as place for Poloniex users who have absorbed financial loss as a direct result of Poloniex lagging and unresponsive server issues.  Once we get enough people together it will force Poloniex to take its users seriously once they know its users are joining together to file a class action law suit. If we can get enough people together Poloniex will be forced to take notice and correct the issues.

Lets hear your thoughts .... if people are interested than lets discuss and determine the next steps.

Why not start off with sharing your own experience and suggestions?
Although I haven't used Poloniex much but for some very small transactions.
Yes their servers are too slow and sometimes it become frustrating.

[Iranus]

A class action law suit would be stupid.  All of their actions have been 100% legal.

What you should do is consider arguing less aggressively for other exchanges, especially when other people ask for a good exchange to trade on.  Unfortunately, I still think Poloniex is the best altcoin exchange with serious trading volume (and the pumps are insane with all the bots).

[alyssa85]

What @pedrog said.

Their terms and conditions protect them, especially as they frequently experience DDOS attacks.

People really should spread their money across lots of exchanges. That way, even if one exchange goes down, they can still trade on the others.

[K128kevin2]

I've noticed that Poloniex isn't as responsive as it should be, but I don't think they're malicious.
The site must be under a ton of load with all of the trading bots, lending bots, people reading the trollbox etc. In my opinion they're doing quite a good job to keep it online at all.

[el kaka22]

 Seriously you think you can sue poloinex for class action lawsuit for being late? Like they have Ddos attack of organic sizes. I mean what could you even tell any judge WHY you want to sue them?

Because you couldn’t reach their website? You have to find a bad intention for them to cut your connection to their website in order for it to be even bad and even that won’t hold up in court. Jesus, some people here.

[xuan87]

I think filing a lawsuit for this case is not going to useful at all, you will spend useless time to do that, even if you are losing money because of the server broken you can't do anything about it and it was all written in the "term of service", if you are not satisfied with poloniex just move to another exchanger, filing a class action won't solve your problem

[stompix]

And we should take this seriously just because a new user with only one damn post (this one) and with a nickname like poloshit said so?

How about we see some numbers about those thousands and thousands of customers and millions lost?

[NeuroticFish]

Lets hear your thoughts .... if people are interested than lets discuss and determine the next steps.

LOL, you made my day!
Let me explain. This guy is right:

You just reminded me, I need to file a class action lawsuit against life for making retards exists in this world. I have to absorb the brain drain every single time nonsensical threads like this get started on bitcointalk.

Just I've seen the fun part of it this time.

I mean come on!
And btw, who are you? Stay around, learn, stop the nonsense, learn, get some reputation, learn and, oh, yes, learn.
Then you may have a chance.


Your post was funny.

[crazyivan]

You have to be joking about this. Class action cause they lag???

Only in America! I suggest you get a life outside of crypto and simply change the exchange if you do not like it. Cause this attempt to discredit them will get you nowhere.

[JanpriX]

Maybe, you should try to check yourself first and assess if you have the guts, knowledge and skills in cryptotrading before making a thread like this. Accusing Poloniex because some people lost "thousands" of dollars while their system lags is just so lame. You reminded me of those "pro gamers" who blame their mouses and keyboards when they lose a match even though the real problem is their skills. Provide some evidence and proof about the claim that you are siting and maybe, some people will take this seriously.

[but why]

OK, I've been trading on Poloniex for quite a long time, and I'm used to making money using Poloniex, but yes, they are ripping me off!

Here's how it works: every time NXT value is rising, NXT deposits take forever. Today was the 3rd time it happened to me.

I noticed a similar thing when a NXT withdrawal could make me money, and with XRP transfers.

Meanwhile I made a BTC deposit, and it went smoothly.

Want proof?
This is my deposit: https://mynxt.info/transaction/2400609104522205574

https://s7.postimg.org/cc1zbh33v/scr1.png

Notice the number of confirmations (time zones might be confusing, but i sent it about 50 minutes ago).
And then Poloniex picked it up and processed internally (again notice the time and the number of confirmations):
https://s22.postimg.org/fj5m5e929/scr2.png

And here's what they're showing to me - false number of confirmations and they're saying it was sent only 15-17 minutes ago:
https://s30.postimg.org/bvw0rjv81/scr3.png

TL;DR:
They're holding my deposit until I can't make money on it.
And maybe, meanwhile, they sold my NXT, then bought it at a lower rate and made profit. Same for others.
When I can finally use my deposits, NXT will be low again.

Collaboration between the exchange and the pumpers, as said elsewhere.

Sorry to ruin your mood, but it's real.

Bonus: I couldn't write in their trollbox after I commented about NXT deposits, then wrote something else and it appeared, then mentioned NXT deposits again and I can't write again. No ban. The text just doesn't show to others.

[Quartx]

SNIP

For all that I read, you could always start your own thread possibly getting more attention rather than thread crashing an old irrelevant thread.

Poloniex only adds deposits to your poloniex balance the moment your transaction in said cryptocurrency has been confirmed. Be it a shitcoin, bitcoin or nxt, it all depends on the particular blockchain.

How about next time I drink beer and it tastes horrible, I blame it on your for drinking beer somewhere else in another part of the world before? Exactly, it makes no sense. Blame the nxt blockchain in slow confirmations, not the exchange.

[Arcteryx]

Don't use Poloniex from what I am getting from all this mess they are in with this thread.
I am looking for an exchange for the last 2 months and was going to go with them but now Bittrex is looking more inviting when seeing news like this being shown to the general audience of potential clients of their for doing any future business with them.
So should make the switch over to looking into joining Bittrex would be the more wise decision now?

[yeasur]

I bought XRP at .00006598 using margin lending then after that XRP start dropping down fast. I tried  to close my position fast but it lag and my transaction attempt fail then sever went down, I got back on and my margin got liquidated. I couldn't  sell or close every time I tried to do so my transaction would lag then failed at that moment. what a terrible  experience it was to see most all my funds lost like that and I couldn't do nothing about it.

[but why]

SNIP

For all that I read, you could always start your own thread possibly getting more attention rather than thread crashing an old irrelevant thread.

Poloniex only adds deposits to your poloniex balance the moment your transaction in said cryptocurrency has been confirmed. Be it a shitcoin, bitcoin or nxt, it all depends on the particular blockchain.

How about next time I drink beer and it tastes horrible, I blame it on your for drinking beer somewhere else in another part of the world before? Exactly, it makes no sense. Blame the nxt blockchain in slow confirmations, not the exchange.

Poloniex is showing a FALSE number of confirmations, lower than the real number of confirmations at that point.

I realize that a deposit needs a certain number of confirmations. Now please notice what I pointed out in my post earlier: after my deposit got x confirmations and a subsequent transaction by Poloniex moving my coins to another address got y confirmations, Poloniex was showing z confirmations, z<x and z<y.

My deposit had 44 confirmations, the transaction they made using it had 21 confirmations, and AFTER that and after refreshing they said I have only 8 confirmations.

Clear enough?

[Quartx]

Cool story

Cool story butwhy , it would have been a nice story, if only your timestamp for the 8 confirmations from poloniex happened after the screenshot from the block explorer with 44 cfms which was 27 minutes after the 8 cfms from poloniex.

You want to take a screenshot, at least take the same time to proof polo is lying, from your screens, you are the liar. ROFL