I've never seen a leading exchange get so much negative reviews. If for example EUREX or NASDAQ received so many complaints all over the web from unhappy customers, they would work extremely hard to improve their PR day and night.
Just the fact that Poloniex is completely silent about this astronomically high number of complaints and bad reviews is a huge red flag, this site might be having liquidity issues, or may be malevolent in intent and might try to outright steal customer funds benefiting from a lack of regulation in the crypto space. I would hope very much to be wrong, and for someone to step forward from their company to fix this huge reputational hit they've been getting over the last couple of months...
Simple. They know they can get away with it because they have the volume. That dwarfs any need to please customers. It's always been this way and it'll continue to be so until more discerning and demanding people get involved. However greed will always beat anything else.
It won't continue in US exchanges if the Uniform Law Commission draft uniform virtual currency act gets approved. Coinbase is strongly objecting to it. All exchanges regulated by it would have to give a bond to the department administering the act, and the department gets to specify the amount. There's a possibility of heavy regulation coming soon to all big US exchanges.
http://www.coindesk.com/uniform-regulation-virtual-currency-businesses-coming-state-near/The Uniform Law Commission will vote on its draft uniform virtual currency act at its annual meeting in San Diego on 14th July.
If you are subject to regulation, the act requires you to be licensed with the state whose residents you conduct virtual currency business activity with. To get a license, you need to submit an application in which you must disclose extensive details about the background of the principals of your business, including fingerprints, criminal history, past bankruptcies, current or past lawsuits, enforcement actions or arbitrations.
Prior to being licensed, an applicant is required to post funds, a letter of credit or surety bond with the department administering the act in the amount that the department specifies based on the nature and risks in the applicant’s virtual currency business model.
Once licensed, you must comply with various requirements such as having a minimum net worth or reserves, creating and maintaining required records, making certain disclosures and implementing compliance policies including cybersecurity, business continuity, disaster recovery, anti-fraud, anti-money laundering, and anti-terrorist financing programs. You are subject to be examined by the department for your compliance with these requirements.
Non-compliance with these requirements or engaging in unsafe, deceptive, fraudulent acts or misappropriation of customer property, subjects you to enforcement actions which can result in fines, a revocation or suspension of your license or the issuance of a cease and desist order as well as, where appropriate, the referral of the matter for criminal prosecution.