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Author Topic: Large number of Poloniex members can not withdraw funds.  (Read 4095 times)
gluedog
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May 09, 2017, 03:43:53 AM
 #1

Initial Post:

There have been (the past days) an increasing number of reports of users (including myself) that Withdrawals are stuck in "Awaiting Approval" for days, and they're not getting out.

https://bitcointalk.org/index.php?topic=1893008.60
https://bitcointalk.org/index.php?topic=1907457.0
https://bitcointalk.org/index.php?topic=1907678.0
https://bitcointalk.org/index.php?topic=1834015.0

Withdrawals are taking 3-4-5+ days and not getting out of "Awaiting Approval"

I myself think I lost around 1 BTC, which is all the money I had invested in crypto. Big dreams for a lot of people. Down the drain.
Over 28 hours and no response from support.

All the moderators ever say is "Contact support we can't help you". "Stay calm your withdrawals will get processed and it may take up to 24 hours".

Now they're under a "presumed" DDoS, this is just ridiculous.

The same "The coins are safe" announcements from twitter. But they're not addressing the withdrawal issue


Later Edit:

After 38 hours the funds were released to my litecoin account on BTC-E. I was planning to sell them at a higher price (0.0185 BTC). I have lost over 30% of all my money due to litecoin going down and I meant to sell it but they were stuck on this god awful exchange. Basically last 3 days of hard work trading went down the drain because of one exchange. When my LTC got to BTC-E, they were worth (0.0145 BTC)

Why do they need this security measure? If someone hacks into my polo account it's my fault for not securing it well enough.

No exchange should hold my coins hostage, totally not ok. Especially since they do not tell you about this issue from before:

They should have a big FYI on their page kind of like this:

Warning, your withdrawals might take more than 30 hours to a few days to process if you:
 - Have not enabled 2FA
 - Recently changed your IP
 - etc.

Nobody is bulletproof.

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P4ndoraBox
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May 09, 2017, 03:46:15 AM
 #2

Thx for the warning ill check that out.

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May 09, 2017, 04:01:38 AM
 #3

I withdrew just now, all working fine for me.

With the explosion in alts I'm not surprised polo infrastructure might be creaking a little, but USA based legal exchange is some comfort.

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May 09, 2017, 04:04:21 AM
 #4

My question is why do more people NOT use a more decentralized exchange such as BitShares? Liquidity has come a LONG way since it began years ago...
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May 09, 2017, 04:10:37 AM
 #5

There is updating from poloniex about the DDOS issue on there, Coins are safe. We should be back up in about 15 minutes.
 i don't think it will be scam service because, still there are informations about the service and all of coins are safe,
 so take in easy gives them time to fix everything.

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May 09, 2017, 04:35:11 AM
 #6

There have been DDOS attacks as well as sometimes they have an issue with their wallet which can delay payouts. These are all technical issues though and I don't think they are planning any sort of exit scam. They make enough off trading fees to stick around.
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May 09, 2017, 05:47:51 AM
 #7

i don't think it is either "Exit scam" or because of "DDoS"!

it is possible that their issue with processing bitcoin withdrawals comes from the fact that many people invest a small amount of bitcoin about a month or two ago and then with all these pumps that has been happening during this time, they all doubled, tripled, 10x-ed their investment and now that pumps are nearing the end they are withdrawing a much larger amount of bitcoin.

optimistic thinking would be, they need to go to their cold storages to pay out.

p.s. it is no longer a coincidence that whenever Ethereum is dumped hard they claim they are under DDoS attack.

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gluedog
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May 09, 2017, 07:25:29 AM
 #8

I'm not withdrawing bitcoins it's just litecoins, now my litecoins are being held hostage, the price is dumping, i'm losing money.

They certainly scammed me.

Nobody is bulletproof.

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May 09, 2017, 08:31:33 AM
 #9

I withdrew coins close to my max daily allowance yesterday without any problems. Almost instant bitcoin transfer.

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May 09, 2017, 08:36:23 AM
 #10

So update, after 35 hours and -30% litecoin value my coins were withdrawn.

Good fucking job polo i'm never using your shit fucking exchange ever.

Nobody is bulletproof.

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May 09, 2017, 08:45:49 AM
 #11

Might be a reason they removed a bunch of coins 2nd May, too much pressure on the exchange.  I doubt it's going to go the same way as cryptsy or anything like that.
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May 09, 2017, 08:48:22 AM
 #12

It's completely NOT normal for withdrawals to have to be approved manually.

Some people need those coins fast.

Some people lost coins due to sending to a TIMED wallet (which closes if it doesn't receive the coins in x amount of time).

Poloniex making hundreds of thousand of dollars a day, yet they can't buy better servers and hire more staff?

Nice business model, way to succeed....

Nobody is bulletproof.

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May 09, 2017, 08:55:47 AM
 #13

Red letters, newbie, yelling here something that nobody understand. I withdraw some money last night from there, and everything was good and fine, and even confirmation was very short after. OK I`m warned, but I don`t think there is anything suspicious here, its just you that have something against them.
Just week ago someone did the same thing with bitfinex I thing, couple threads with the same text just other exchange site and nothing happened.

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May 09, 2017, 09:05:58 AM
 #14

Oh a panicked newb who wanted to panic sell you should thank polo for saving ur ass

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May 09, 2017, 09:42:02 AM
 #15

I moved some Bitcoin out of Poloniex 2 days ago. It was processed pretty much immediately.

I don't think it is a scam, they might sometimes have short delays, but that is fairly normal.
35h is a long time to wait, it must hurt when the price falls like it has in the last few hours.  Really though, for alts trading it is Poloniex or nothing.


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May 09, 2017, 10:18:17 AM
 #16

Oh a panicked newb who wanted to panic sell you should thank polo for saving ur ass

I would have sold at 0.0185 and bought back at 0.0140.

How is this newb ? You're an idiot.

Nobody is bulletproof.

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May 09, 2017, 11:24:24 AM
 #17

I had some Bitshares on there that I wanted to sell last night but I kept getting timeout errors while attempting to make transactions. I figured that they were just overwhelmed by the number of users I don't think a legal exchange like Polo would play games like this. Anyhow, this morning price is tanked so I guess I'm holding until the next run up. Figures.. I should have spread my bts to other exchanges.

 
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deadsilent
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May 09, 2017, 11:41:00 AM
 #18

Their servers are lagging. Maybe because the volume of people who trades there. Poloniex is one of the biggest trading platform. But their system needs to be upgrade. Its not totally scam. I trade and withdraw funds there many times. Calm your ass down mate. Maybe its just a system glitch. Just wait for it to get fixed.


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freedomno1
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May 09, 2017, 12:26:18 PM
 #19

Been seeing some of my transactions get eaten and the balance not updating
Also some coins have disappeared from my balance opened a ticket but would be cautious the margin trading seems to be bugging on trade orders due to the increased usage and may not be filling it in perfectly.

mummybtc
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May 09, 2017, 12:29:00 PM
 #20

Firstly, you need to understand there is no exchange that is 100% safe, some are just more security conscious than others. I have been using Poloniex for some time now and I'm okay with there service because of this technical issue you can't just come to conclusion base on your own Opinion, you should have just traded your LTC on Poloniex instead of moving it to another exchange

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