[2018-07-25] Delaware DOJ Reaches Out to Poloniex Users ‘If They Have an Issue’

[InvoKing]

Starting from 2018 some Poloniex users claimed having difficulties with their accounts.
They complained about missing or stuck deposits and accounts being frozen without getting a response from the company.
The current issues with this exchange piqued the interest of the Investor Protection Unit of the Delaware Department of Justice (DOJ) which the Chief Special Investigator of the Investor Protection Unit (IPU) emailed a list of individuals, asking them to contact him in case having any difficulties with their Poloniex accounts...
https://cointelegraph.com/news/us-delaware-doj-reaches-out-to-poloniex-crypto-exchange-users-if-they-have-an-issue

[1715393456]

1715393456

[InvoKing]

First time creating a post here from a long period. I searched in the last 6 pages for similar articles and didn't find any, the news is interesting and I made a summary using words from the article without copying the whole text as it is... Imo this is what we should see in our press section...

Now back to the article, Poloniex needs to be avoided especially after being purchased by Circle.

Welcome back, Invo, hope you realise it was a mistake to leave this forum for too long;)

You mean not creating a topic in the press section for a long period 

[buwaytress]

Welcome back, Invo, hope you realise it was a mistake to leave this forum for too long;)

Very, very interesting case we have here. Polo's certainly wronged a lot of users in the past (though not sure if they've really improved after being acquired) and if there were an open space for the DoJ to be reached, they'd get hundreds of users. I didn't get any email, so I wonder what the criteria was for getting on that mailing list. No real issue with them, but I stopped using them as soon as it became apparent user accounts were getting blocked and support never replied my requests.

Next morbid question is... if the DoJ realises it's made a huge data privacy mistake by not using blind cc.

[audaciousbeing]

Starting from 2018 some Poloniex users claimed having difficulties with their accounts.
They complained about missing or stuck deposits and accounts being frozen without getting a response from the company.
The current issues with this exchange piqued the interest of the Investor Protection Unit of the Delaware Department of Justice (DOJ) which the Chief Special Investigator of the Investor Protection Unit (IPU) emailed a list of individuals, asking them to contact him in case having any difficulties with their Poloniex accounts...
https://cointelegraph.com/news/us-delaware-doj-reaches-out-to-poloniex-crypto-exchange-users-if-they-have-an-issue

This is surely a step in the right direction as service providers needs to be held accountable for their actions. The consciousness of someone who called them to order is enough to ensure the right thing is being done. Poloniex for one have been having issues with clients and they continue to ignore customers complaints. I think its because of the amount of people they have who patronise them makes them feels they wouldn't mind if one or two people can be dropped via their bad customer satisfaction. But with this, they brought this on themselves and I know government officials will see this as an opportunity to really go hard on them beyond normal. The fear now is, will people be willing to really submit their complains to DOJ without being skeptical about how it might be used against them.

[milewilda]

Starting from 2018 some Poloniex users claimed having difficulties with their accounts.
They complained about missing or stuck deposits and accounts being frozen without getting a response from the company.
The current issues with this exchange piqued the interest of the Investor Protection Unit of the Delaware Department of Justice (DOJ) which the Chief Special Investigator of the Investor Protection Unit (IPU) emailed a list of individuals, asking them to contact him in case having any difficulties with their Poloniex accounts...
https://cointelegraph.com/news/us-delaware-doj-reaches-out-to-poloniex-crypto-exchange-users-if-they-have-an-issue

This is surely a step in the right direction as service providers needs to be held accountable for their actions. The consciousness of someone who called them to order is enough to ensure the right thing is being done. Poloniex for one have been having issues with clients and they continue to ignore customers complaints. I think its because of the amount of people they have who patronise them makes them feels they wouldn't mind if one or two people can be dropped via their bad customer satisfaction. But with this, they brought this on themselves and I know government officials will see this as an opportunity to really go hard on them beyond normal. The fear now is, will people be willing to really submit their complains to DOJ without being skeptical about how it might be used against them.

For those users who do have problems with poloniex specially having locked out with big funds will always have that second thought or doubt if they would decide to seek out for help or do tell their problems to DOJ. Chances for them to be backfired would be there yet we know if gov't would see holes or suspicious things then they would really tend to dig it out and pursue to prove something.
For sure they wont really tend out to reach out if they do know that they would face up problems instead on getting some help.

[Slow death]

this news is very interesting

The IPU is part of the Fraud and Consumer Protection Division, which protects the public from securities fraud, consumer fraud, and other forms of white collar crime. The IPU is specifically responsible for enforcing provisions of the Delaware Securities Act and the the Rules and Regulations Pursuant to the Act. They also review and investigate investor complaints, as well as examine investment advisors and broker dealers. The IPU initiates enforcement actions in the event that a firm or individual has run afoul of the Delaware Securities Act.

The question I ask is: why just now? In the past years poloniex has become worse or equal to yobit, they ignored their customers and it even seemed that there was no authority to show that there is still law, and after many months this appears:

Poloniex cryptocurrency exchange has apparently piqued the interest of the Investor Protection Unit of the Delaware Department of Justice (DOJ). As shown in an email shared with Cointelegraph, the Chief Special Investigator of the Investor Protection Unit (IPU) wrote to a list of individuals, asking them to contact him should they have any difficulties with their Poloniex account.

this sounds very strange, why only now the authorities show some interest?