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Author Topic: Poloniex caused the market to crash  (Read 2250 times)
AdolfinWolf
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May 13, 2017, 08:56:38 AM
 #41

I don't think poloniex caused the market to crash because the issue on the website (DDOS, hacking and other problem)
always be found on the internet include on poloniex, i don't think there is related between the price with poloniex down
because there are not the coins disappear and right now poloniex is fine.

They did kind of crash the market, their site is the largest altcoin exchange available, if they go down, everyone will panick, and try to sell their positions, which is what happend here.

It's ofcourse bad that this kind of stuff still happens in 2017, but that doesn't mean that there is no money to be made.

As sad as it is, you could've picked up a lot of coins for a cheaper price at the time poloniex was lagging like crazy.

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May 13, 2017, 09:44:59 AM
 #42

I don't think poloniex caused the market to crash because the issue on the website (DDOS, hacking and other problem)
always be found on the internet include on poloniex, i don't think there is related between the price with poloniex down
because there are not the coins disappear and right now poloniex is fine.

They did kind of crash the market, their site is the largest altcoin exchange available, if they go down, everyone will panick, and try to sell their positions, which is what happend here.

It's ofcourse bad that this kind of stuff still happens in 2017, but that doesn't mean that there is no money to be made.

As sad as it is, you could've picked up a lot of coins for a cheaper price at the time poloniex was lagging like crazy.
It is like blame the poloniex because the website was down, even the poloniex doesn't sell all of the coins
the traders are panic selling and make the price went down right now
 we blamed poloniex even they never sell the coins of costumers and there are not the coins was disappear
from there, the market to crash because of the traders panic selling.

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AdolfinWolf
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May 13, 2017, 05:02:40 PM
 #43

I don't think poloniex caused the market to crash because the issue on the website (DDOS, hacking and other problem)
always be found on the internet include on poloniex, i don't think there is related between the price with poloniex down
because there are not the coins disappear and right now poloniex is fine.

They did kind of crash the market, their site is the largest altcoin exchange available, if they go down, everyone will panick, and try to sell their positions, which is what happend here.

It's ofcourse bad that this kind of stuff still happens in 2017, but that doesn't mean that there is no money to be made.

As sad as it is, you could've picked up a lot of coins for a cheaper price at the time poloniex was lagging like crazy.
It is like blame the poloniex because the website was down, even the poloniex doesn't sell all of the coins
the traders are panic selling and make the price went down right now
 we blamed poloniex even they never sell the coins of costumers and there are not the coins was disappear
from there, the market to crash because of the traders panic selling.
And why did the sold? Because of the software lacking their needs.

Poloniex was just not functioning normally and barely working. I could see why people panic sold.

Poloniex has an extremely powerful position right now. They can break any altcoin by de-listing it, and they can also crash the markets by shutting down their exchange. Maybe not in the long run, but they will surely have a big impact on the short term.

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May 13, 2017, 06:32:04 PM
 #44

They claimed that the website was being ddos but I dont believe in their word. They are trying to make the whole crypto system crashing and this can not be accepted. I dont like polo at all and now I am trying to withdraw my money

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Arpetuos
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May 13, 2017, 07:16:20 PM
 #45



Too many DDoS, I did get into panic too.

Poloniex is probably very dangerous. However, it stays the service I prefer for cryptocurrency exchange.

Have a look at its twitter account.

krisnt80
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May 15, 2017, 07:53:13 PM
 #46

Poloniex is attacked if not all days almost all days, soo i wouldnt be surprised is for sometime the website not avaible to trades, poloniex is a big exchange and with a huge volume daily, an ambicious target to take out as well to try to hack, but im pretty sure poloniex does have several measures to handle ddos attack as well a shield to protect against hackers.

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Harry Callahan
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May 15, 2017, 11:01:39 PM
 #47

Poloniex is attacked if not all days almost all days, soo i wouldnt be surprised is for sometime the website not avaible to trades, poloniex is a big exchange and with a huge volume daily, an ambicious target to take out as well to try to hack, but im pretty sure poloniex does have several measures to handle ddos attack as well a shield to protect against hackers.
They might have several measures to handle DDOS attacks but are they capable to handle the volume they are getting,that is the biggest question we have to ask,some the things i saw and the complaints i heard regarding the delay in withdrawals and the trade window getting stuck and in the mean time the price of the coin plummets is not the work of hackers,because if the site claims that the hackers did that then i would say that the site is compromised.I am staying away until everything is resolved and back to normal.
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May 18, 2017, 06:14:03 PM
 #48

Poloniex is attacked if not all days almost all days, soo i wouldnt be surprised is for sometime the website not avaible to trades, poloniex is a big exchange and with a huge volume daily, an ambicious target to take out as well to try to hack, but im pretty sure poloniex does have several measures to handle ddos attack as well a shield to protect against hackers.
They might have several measures to handle DDOS attacks but are they capable to handle the volume they are getting,that is the biggest question we have to ask,some the things i saw and the complaints i heard regarding the delay in withdrawals and the trade window getting stuck and in the mean time the price of the coin plummets is not the work of hackers,because if the site claims that the hackers did that then i would say that the site is compromised.I am staying away until everything is resolved and back to normal.

Well I don't think that the measures they have put in is enough to handle DDoS. I'm thinking the worst, they don't have any measures to handle it. that's why the moment they got attacked Poloniex crashes making bad speculation on them. I hope they have improved their security in handling such scenarios otherwise who ever is behind the DDoS will continue to harm their business that will make people moved to other trading platforms. Which make them lost revenues day by day.

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