Mt. Poloniex, who is dumping when users can't sell?

[Money Maker Shaker]

i was reading all the commetns on the latest Poloniex tweet and people are pissed off because they have lost a lot of money because the exchange with the highest daily volume (currently at $262 million dollar) can not provide proper services to them.

this raises some questions.

why are some orders go through and sell on high price while many can not execute an order and are losing a lot of money because the altcoins are getting dumped hard while they watch so many sell orders and desperately click sell button with no success?!

who does these orders belong to if majority of users are unsuccessful at selling?

what kind of super advanced DDoS attack is this, that only some users are affected and the only effect is that they can not execute sell orders? but they can surely watch their investment go up in smokes!

and the worst part: This Is Not The First Time

[slaman29]

As long as they can provide 3rd party evidence that confirms the DDoS, then perhaps users can be a bit more forgiving but we all suspect that this is just an excuse. Once more the biggest has everyone at held as hostage. We can only wait to see what happens...

[~Bitcoin~]

I can't believe polo is under any real ddos attack more than three time within this week which is quite rare, and i don't find any incentive for anyone to spend so much on such attacks.

They may soon face lawsuit and they may get charged in millions for this childish behavior.

[Quartx]

Faces DDOS , tries to mitigate to best of efforts, get fucked by customers.
Tells customers about huge ddos rather than keeping mum, get fucked by customers.
Try to improve service despite massive ddos, gets fucked by customers.

Just because you lose money does not mean that poloniex is not doing anything. They might be not doing a lot more than they could but at least they are still trying to.

One does not simply lose money and blame others trying to get a quick return by threatening with a lawsuit, although if u guys actually attempt to file one, it would probably be thrown out by any judge.

[MingLee]

I feel bad for Poloniex in this situation because there is literally very little they can do about it and it looks like they're actually trying to do stuff to fix it. While I don't really use their exchange much I have done stuff with it in the past and it appeared to be a good platform, so I don't know why all the customers are so buttmad about what's happening. Even if it isn't a DDoS by conventional standards enough traffic could destabilize their systems.

[Money Maker Shaker]

When you look at claims about DDoS, it is justifiable.

When you look at timing of these alleged DDoS attacks and
When you look at all the previous timing of the rest of DDoS attacks and
When you look at how altcoin prices have been in a bubble and were bursting during these times
things no longer look like coincidence.

[Dorky]

Refer: Inside Job.

[YuginKadoya]

With the price at hand and the raise value of bitcoin I think that everybody can surely think of getting away with a bigger money and they can surely do that, a mere DDOS attack? I think it is just an excuse, right now the price is very tempting and the price increase is a very thing that someone can make a wrong thinking in getting all of it for himself right? well the crowd is going wild and I can smell that a catastrophe is gonna happen!

[Nagadota]

The chances are that Poloniex isn't fully solvent.

Let's look at the signs:

-DDoS attacks that don't affect the main site, don't affect certain coins and don't make Poloniex close down all trading.
-DDoS attacks also mysteriously allow a few select individuals to trade while others can't.
-Some people's large withdrawals pending for a long time.

They're clearly trying to earn loads of money by buying coins, waiting for pumps then dumping the coins themselves while others can't.

[The End Is Neigh]

I hope this isn't true that it's all an elaborate hoax. Poloniex is huge and this will affect all altcoins.

[virasog]

Refer: Inside Job.

If this continues and if someday it is really an insider job then the this will be a big disaster event for bitcoin and it could be much worse than Mt. gox, Mt. Poloniex Crisis. It can seriously impact the bitcoin volume and price as poloniex is the number one trading site to-date and there are always 25000+ Users online trading at poloniex with over  100,000 BTC 24hr Volume.

[infer]

LOL. I know that feeling bro. I have 45 litecoin on that trading platform and it has been stucking there for a whole week. I am sick of poloniex and all of its shady behavior. Poloniex is not different from the China: love to make fake volume

[Qunenin]

As long as they can provide 3rd party evidence that confirms the DDoS, then perhaps users can be a bit more forgiving but we all suspect that this is just an excuse. Once more the biggest has everyone at held as hostage. We can only wait to see what happens...

So you along with many people believe that poloniex is doing is deliberately and freezing the buy/sell of a Alt for a sometime, taking the background profit by selling / buying themselves and then re-open trade for public and by that time the coin is dumped far causing many to lose millions of bitcoins. This thing also happened  with me once and after that i do not make big orders on their site.

[The One]

i was reading all the commetns on the latest Poloniex tweet and people are pissed off because they have lost a lot of money because the exchange with the highest daily volume (currently at $262 million dollar) can not provide proper services to them.

this raises some questions.

why are some orders go through and sell on high price while many can not execute an order and are losing a lot of money because the altcoins are getting dumped hard while they watch so many sell orders and desperately click sell button with no success?!

who does these orders belong to if majority of users are unsuccessful at selling?

what kind of super advanced DDoS attack is this, that only some users are affected and the only effect is that they can not execute sell orders? but they can surely watch their investment go up in smokes!

and the worst part: This Is Not The First Time

I bought STR under 1800 and had to click again and again to get the order in. Finally it went through and the panic sellers gladly dumped their STR onto me.

Sold STR above 2150. All done and dusted.

All fair in love and war.

I'm happy as a bunny.

[BitWhale]

As a general policy of not trusting any exchange, I've only kept coins in poloniex long enough to exchange them. I must admit that something does seem fishy over there. I don't know what it is and I'm not going to speculate, but I definitely don't want to give them any of my coins.

[dinofelis]

I thought that people were using crypto because it was decentralized, secure, permissionless and that one didn't depend on the willingness of third parties  
Seems they dumped their centralized bank to, eh, trust some guy on the internet 

[setupbounds]

When you look at claims about DDoS, it is justifiable.

When you look at timing of these alleged DDoS attacks and
When you look at all the previous timing of the rest of DDoS attacks and
When you look at how altcoin prices have been in a bubble and were bursting during these times
things no longer look like coincidence.

Exactly, Everytime the DDos attacks happens and the once it is over the particular altcoin price dips a lot. This is not possible practically as trading is closed at that time as no one can have access to trading due to Dos attack. All this seems to be intentional site job to get illegal profit.

[iamTom123]

I can't believe polo is under any real ddos attack more than three time within this week which is quite rare, and i don't find any incentive for anyone to spend so much on such attacks. They may soon face lawsuit and they may get charged in millions for this childish behavior.

Lawsuits can be coming soon against Poloniex and I already read that someone has already filed a complaint. This can be expected if you lost millions in trading because of the problem in the exchange. There are many traders who are now depended their living on Poloniex and for it to fail just when it is needed can be a big sin. I am then expecting that they maybe upgrade their infrastructure and hire better security people.

[eaLiTy]

It is a really bad situation as i lost five hundred dollars in one coin that got delisted recently and i could not sell nor was able to withdraw in time and the price tanked really bad and after 24 hours they released the coin and by the time i lost a huge amount and i had to sell off everything at a loss as there was no positive direction from the coin itself,just purchased the coin to do some arbitrary trade and it back fired real bad.It was a good lesson after all and i would not dare to touch the coins that are going to be delisted ever again.

[kidoseagle0312]

Is so sad that at the present time now Poloniex was facing an issues problem to their client customers/traders in terms of making
transactions of withdrawal. Which lead their clients to feel doubt and fear to lose their holding coins in poloniex.