Polo To Face Class Action Suit

[bbc.reporter]

Cryptocurrency experts always projected that delisting from a major cryptocurrency exchange, such as Poloniex, would have a negative effect on each of the altcoins. Listing and then delisting altcoins will also manipulate markets. But it seems that someone has already earned some money using this situation.

Price charts of the altcoins that were named to be delisted from Poloniex exchange (Boolberry, Bitstar, Coin 2.1, CureCoin, Horizon, I/O Coin, Myriad, NobleCoin, NuShares, Qibuck, Qora, Quatloo, Rubycoin, ShadowCash, SuperNET, Voxels, Magi), show that there were massive selloffs of these coins just before the announcement from Poloniex.No coin devs or were warned before the announcement

That is hard to believe. After all the scams and the scandals in the cryptospace, do you still believe the developers word that they have not heard anything before their projects were delisted? I do not believe it. Information always gets leaked.

[1713959194]

1713959194

[1713959194]

1713959194

[lowbander80]

to be honest when all Devs that answered said no warning and in the past I know for certain no warning was given, unlike you I would take the word of the Devs before Polo

[dissident]

to be honest when all Devs that answered said no warning and in the past I know for certain no warning was given, unlike you I would take the word of the Devs before Polo

Giving developers warning before they delisted would not be a good idea legally.. when you make announcements like this, you're not supposed to leak it to anyone before hand to cover your butt... though if they told the developer and the developer leaked the information they would be the one liable.. it would be like leaking earnings reports ahead of time and letting people insider trade before they come out.. which I'm guessing does happen and people don't get caught all the time... human beings are corrupt and will take advantage when they can.

[bbc.reporter]

Who is filing the lawsuit? Some of those cryptcoins have anonymous developers like Supernet and what they are doing is not really legal. The developers cannot do anything because Poloniex could get someone to file a counter lawsuit versus the developers for making and maintaining a ponzi.

[lowbander80]

Who is filing the lawsuit? Some of those crypto coins have anonymous developers like Supernet and what they are doing is not really legal. The developers cannot do anything because Poloniex could get someone to file a counter lawsuit versus the developers for making and maintaining a ponzi.

To answer a few questions here, It's unclear who is filing but lawyers have been instructed to look into the possibility of suing.Supernet should not have been listed as Bittrex would not list due to the fact it's becoming more a share than a coin.
Polo counter suing as they are a ponzi, unlikely as they would become implicit in listing a Ponzi.As I said before even lawyers looking into the possibility would draw attention from FinCEN and a lawsuit might not be even needed for Polo to get into deep shit

[JellyO]

Polo is to face class action suit for insider trading before announcement of delisting 17 altcoins,evidence being gathered now according to a coin developer.

Got a link? Seems like there's always these class action lawsuits that get announced but no news.

[CPlusConcepts]

How's this for strange.

I somehow have an open margin long position in XRP @ .00021461? The price never came near that, nor spiked to that price point, yet here I am with this open position I did not order, that is obviously at a huge loss because the price only ever made it around .00014.

So tell me: How exactly would an open position fulfill at a price that never even spiked to that price point? I'm sitting looking at a loss and lending fees that just keep adding up for an order I didn't make, and obviously would never make, why the hell would I buy something that's 1.5x the recent ATH? I wouldn't, but yet here I am slowly losing money over it, if I close it out Ill lose hundreds of dollars. I contacted support, but wont cross my fingers that they respond.

Polo is turning into Cryptsy.

Patterson Law Firm in FL has been put on retainer and are investigating claims against Poloniex for fraud. You can contact Alexander Passo @ apasso@pattersonlawfirm.com if you've been dealing with any issues. Poloniex's terms of service are not enforceable in court, regardless of how much they want you to think they are.

[Monzsta]

How's this for strange.

I somehow have an open margin long position in XRP @ .00021461? The price never came near that, nor spiked to that price point, yet here I am with this open position I did not order, that is obviously at a huge loss because the price only ever made it around .00014.

So tell me: How exactly would an open position fulfill at a price that never even spiked to that price point? I'm sitting looking at a loss and lending fees that just keep adding up for an order I didn't make, and obviously would never make, why the hell would I buy something that's 1.5x the recent ATH? I wouldn't, but yet here I am slowly losing money over it, if I close it out Ill lose hundreds of dollars. I contacted support, but wont cross my fingers that they respond.

Polo is turning into Cryptsy.

Patterson Law Firm in FL has been put on retainer and are investigating claims against Poloniex for fraud. You can contact Alexander Passo @ apasso@pattersonlawfirm.com if you've been dealing with any issues. Poloniex's terms of service are not enforceable in court, regardless of how much they want you to think they are.

I narrowly missed getting scalped but I'm still pissed about it.  My coins are off that site.  They're throwing the same red flags as Gox and Crypsy.  And I cut my teeth on Crypsy.  Broke my heart.