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Author Topic: Poloniex continues to suck, despite Circle buying them (paid after 42 days)  (Read 379 times)
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April 09, 2018, 10:23:27 PM
Merited by suchmoon (2)
 #1

I've been waiting on a "Pending Approval" withdraw for 13 days now. (EDIT: Over 20 days now. EDITEDIT: Over 40 and customer support answer about 10 business days turned out to be bullshit.)

I've had a support ticket open for 13 days without a single reply.

Super frustrating.  You would think with Circle buying Poloniex out, that Poloniex would start to suck a little less.

Fucking trash.  Canceling my whole account once I receive my coins.

(Topic is updated with how many days it has been... fucking insane)

I would HIGHLY advice not to deposit on Poloniex.  This is a absolute fucking nightmare.

tl;dr:



EDIT:  I've received my withdraw today. 5/8/18 (took a little over 40 days and around 21 days after support said 10 business days)

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April 10, 2018, 01:40:33 AM
 #2

Well you have to think about it in the fact that Circle just recently bought them out, so I don't think they've really gone through mass changes yet. Once they do though, Once Circle really hones in on making Poloniex like the support / service they provided for Circle, then they're going to be doing good.

You have to give it time, it's going to take some time but I know that Circle is a good company that will save Polo before it is fully eaten up by Binance.


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kevoh
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April 10, 2018, 07:45:35 AM
 #3

Well you have to think about it in the fact that Circle just recently bought them out, so I don't think they've really gone through mass changes yet. Once they do though, Once Circle really hones in on making Poloniex like the support / service they provided for Circle, then they're going to be doing good.

You have to give it time, it's going to take some time but I know that Circle is a good company that will save Polo before it is fully eaten up by Binance.
It's about seven weeks since the acquisition by Circle , don't you think that is enough time to set down measures to prevent issues such as the 13 days withdrawal this OP is complaining about?

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April 10, 2018, 01:46:42 PM
Merited by suchmoon (1)
 #4

Their Doge wallet has been under maintenance for a week too.

On the bright side they issued the following notice:

https://poloniex.com/press-releases/2018.04.06-Circle-Poloniex-Journey-Six-Weeks-In/

Quote
When the Poloniex-Circle integration began in late February, together we faced a backlog of 159,000 customer issues. Over the past 6 weeks, we have resolved 76,000 of those issues and added 6 new agents to our support team. We have tripled the number of engineers working on our wallet infrastructure and streamlined the process for notifying engineering when technical support is needed.

So Circle has stumped up the money for new staff. However they do need to fix issues quickly - Poloniex's backlogs have been going for nearly a year now, and they're losing customers.

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April 10, 2018, 02:12:37 PM
 #5

Their Doge wallet has been under maintenance for a week too.

On the bright side they issued the following notice:

https://poloniex.com/press-releases/2018.04.06-Circle-Poloniex-Journey-Six-Weeks-In/

Quote
When the Poloniex-Circle integration began in late February, together we faced a backlog of 159,000 customer issues. Over the past 6 weeks, we have resolved 76,000 of those issues and added 6 new agents to our support team. We have tripled the number of engineers working on our wallet infrastructure and streamlined the process for notifying engineering when technical support is needed.

So Circle has stumped up the money for new staff. However they do need to fix issues quickly - Poloniex's backlogs have been going for nearly a year now, and they're losing customers.

This is something I'd call a good effort to clean up the mess. Let's see if they can sort out the backlog and then concentrate on service/inftastructure improvement.
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April 10, 2018, 03:01:54 PM
Merited by BitHodler (1)
 #6

It's about seven weeks since the acquisition by Circle , don't you think that is enough time to set down measures to prevent issues such as the 13 days withdrawal this OP is complaining about?

Seven weeks to turn around a place that's been gradually decaying for years? First you have to find more staff who have a clue, then you have to find staff who aren't thieves, then you have to train them up.

All of that takes time and money and plenty of it.

If I were Circle I would've put some type of announcement up nominating a date for a reboot and kept things as they are until then with incremental improvements where possible.

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April 10, 2018, 03:44:41 PM
 #7

circle to me is one of the worst businesses that were created in bitcoin world. the owner of it is also incompetent. if I recall correctly I think it was last year that they stopped one of their main services because it wasn't generating them money and to cover it up and shut their angry customers up they started attacking bitcoin and spreading some FUD about it!!!
them buying poloniex was the signal to stay away from Polo for me at least!

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April 10, 2018, 03:48:19 PM
 #8

Seven weeks to turn around a place that's been gradually decaying for years? First you have to find more staff who have a clue, then you have to find staff who aren't thieves, then you have to train them up.

All of that takes time and money and plenty of it.

If I were Circle I would've put some type of announcement up nominating a date for a reboot and kept things as they are until then with incremental improvements where possible.
Completely agree with that. I honestly don't think people should expect anything significant to happen this year with the level of work that still needs to be processed, which definitely has more priority right now.

That exchange has been neglected for such a long period of time, that Circle actually bought itself a massive pile of rubbish. Bitstamp or any other capable exchange would have been a better buy.

Bitstamp is said to be taken over for roughly the same amount of capital, which might have been a better deal, but maybe they attempted to acquire Bitstamp before Poloniex, but failed and were 'forced' to go for Poloniex.

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April 10, 2018, 03:49:16 PM
 #9

circle to me is one of the worst businesses that were created in bitcoin world. the owner of it is also incompetent. if I recall correctly I think it was last year that they stopped one of their main services because it wasn't generating them money and to cover it up and shut their angry customers up they started attacking bitcoin and spreading some FUD about it!!!
them buying poloniex was the signal to stay away from Polo for me at least!

Circle quit retailing BTC but remained a big OTC player. Going on their track record with that I wouldn't have a huge amount of faith that they're going to keep the faith if the crypto market decides to hibernate.

They bought Poloniex while the hype was still reasonably hot. What happens if it dies out completely until 2020?

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April 10, 2018, 08:30:06 PM
 #10

Fucking trash.  Canceling my whole account once I receive my coins.

it seems more that they are greedy and do not want to fix the biggest problems of all exchange: lack of sufficient staff to solve the problems of the clients, according to this:

Circle Co-Founder Says Recently-Acquired Poloniex Exchange Will Expand In Asia

Payments technology company Circle announced it plans to hire up to 100 people in Asia to expand its recently acquired Poloniex cryptocurrency exchange, Bloomberg reports today, March 15.

your focus is on expanding and getting more profits instead of focusing on solving the current problem



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April 10, 2018, 10:29:20 PM
 #11

Quote
When the Poloniex-Circle integration began in late February, together we faced a backlog of 159,000 customer issues. Over the past 6 weeks, we have resolved 76,000 of those issues and added 6 new agents to our support team. We have tripled the number of engineers working on our wallet infrastructure and streamlined the process for notifying engineering when technical support is needed.

This is promising.... I'm REALLY just hoping I get this fucking deposit before next month.

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April 10, 2018, 10:44:46 PM
 #12

circle to me is one of the worst businesses that were created in bitcoin world. the owner of it is also incompetent. if I recall correctly I think it was last year that they stopped one of their main services because it wasn't generating them money and to cover it up and shut their angry customers up they started attacking bitcoin and spreading some FUD about it!!!
them buying poloniex was the signal to stay away from Polo for me at least!

Circle quit retailing BTC but remained a big OTC player. Going on their track record with that I wouldn't have a huge amount of faith that they're going to keep the faith if the crypto market decides to hibernate.

They bought Poloniex while the hype was still reasonably hot. What happens if it dies out completely until 2020?

...they bail a couple months before the next bubble like last time? Smiley

seems unlikely this time. this is a big undertaking. i don't think this acquisition was taken lightly given their plans:

Quote
According to a slide from a confidential Circle presentation posted on Twitter by New York Times reporter Nathaniel Popper, it appears Circle has plans to turn Poloniex into a licensed alternative trading system (ATS), along the lines of what Overstock is doing with tZero . According to the slide, after closing the sale, Circle will begin the process of licensing Poloniex with the SEC and Financial Industry Regulatory Authority (FINRA).

if they're smart, they'll follow through with their business plan and take from each side of the spread, making a killing as exchanges have already been doing for years. even if we go into hibernation for 2-3 years, so what?

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April 11, 2018, 02:02:44 AM
 #13

I had the same thing happen to me last year, but the coins went to my wallet. Eventually lol. It took 10 days.

What I did was, sent messages to their support team every 3 hours for the first 3 days. Then did it once a day for the next 6 days, then I went public on Twitter on the last day lol. Then the coins arrived.



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April 11, 2018, 02:07:05 AM
 #14

My last withdrawal at Poloniex didnt last for a day? what's happening to them right now Sad?
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April 11, 2018, 05:57:14 AM
 #15

I've been waiting on a "Pending Approval" withdraw for 13 days now.

I've had a support ticket open for 13 days without a single reply.

Super frustrating.  You would think with Circle buying Poloniex out, that Poloniex would start to suck a little less.

Fucking trash.  Canceling my whole account once I receive my coins.

Completely agreed. Especially if you don't have 2fa enabled, you are especially prone at this pending approval BS.

I had the same issue last year with a bitcoin withdrawal. Took them around 3 weeks to 1 month to actually get their stuff together, and finally make the withdrawal go through. This is unacceptable. I do hope that the circle buyout helps them somewhat but looking at this point, it's not helping their reputation get any better if old problems persist.

They used to be one of the top exchanges, but now they are just trash. I don't know how else you could describe them, honestly.

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April 11, 2018, 07:55:56 AM
 #16

I've been waiting on a "Pending Approval" withdraw for 13 days now.

I've had a support ticket open for 13 days without a single reply.

Super frustrating.  You would think with Circle buying Poloniex out, that Poloniex would start to suck a little less.

Fucking trash.  Canceling my whole account once I receive my coins.

1. You should not be waiting 13 days for a reply from support.
2. Your money should not be held up because of "security concerns", especially for so long.
3. At least give an option where instant withdrawals are available, instead of it being "awaiting approval".

Quote
When the Poloniex-Circle integration began in late February, together we faced a backlog of 159,000 customer issues. Over the past 6 weeks, we have resolved 76,000 of those issues and added 6 new agents to our support team. We have tripled the number of engineers working on our wallet infrastructure and streamlined the process for notifying engineering when technical support is needed.

This is promising.... I'm REALLY just hoping I get this fucking deposit before next month.

Well, it don't mean jackshit if your problem hasn't been resolved, and your problem arose when poloniex was already acquired by Circle.

They should be focusing all of their manpower to resolving current issues before moving onto expanding into Asia or whatever. I understand they want to profit and whatnot, but they need to sort out existing problems.

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April 11, 2018, 01:56:21 PM
 #17


it seems more that they are greedy and do not want to fix the biggest problems of all exchange: lack of sufficient staff to solve the problems of the clients, according to this:

Circle Co-Founder Says Recently-Acquired Poloniex Exchange Will Expand In Asia

Payments technology company Circle announced it plans to hire up to 100 people in Asia to expand its recently acquired Poloniex cryptocurrency exchange, Bloomberg reports today, March 15.

your focus is on expanding and getting more profits instead of focusing on solving the current problem




Why Asia? Is it to get away from American regulators?

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April 11, 2018, 03:10:58 PM
 #18

What I did was, sent messages to their support team every 3 hours for the first 3 days. Then did it once a day for the next 6 days, then I went public on Twitter on the last day lol. Then the coins arrived.

Very likely pure coincidence. The thing with exchange support priority systems is that it doesn't help if you keep sending emails. Your recent emails will not be read, and if you are being seen as a spammer, they might even completely junk out your most recent mails. Social media is full of people complaining, so you doing that as well won't mean anything to them. It's just another one in an already massive list.

What people here don't realize is that Poloniex is the first exchange to be fully approved by the SEC, which is a major advantage leap Circle now enjoys. I am fairly sure that they don't mind the outflow of regular users since I am expecting it to function as securities and options exchange for deep pockets later on. I don't expect anything to happen this year with Poloniex, but it's a worthy asset in JPM's and GS's portfolio with the SEC approval in their pocket.

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April 11, 2018, 03:36:47 PM
 #19

Why Asia? Is it to get away from American regulators?

Asians are less stupid and lazy than Americans as a whole.

It is an odd one. If they're thinking of trying to dominate Asian markets that would be a big old task and they could throw infinite money at it and get nowhere.

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April 11, 2018, 03:42:22 PM
 #20

I've never had withdrawal problems at Poloniex, but I have heard plenty of horror stories. However, the problem I had was when they released their "Legacy Account" mandatory verification notice back in December, I had lots of issues just trying to go through their "automated" verification system, and after submitting multiple tickets with zero response, I resigned myself to having to cut Polo from my list of exchanges. And then, a week or so ago (so 2+ months after initial attempts of verification + support tickets), my account was finally verified. Still no response to any of my tickets, but oh well. I am hoping that the Circle integration does help a lot, because I do like Polo's interface.

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