FlamingFingers
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October 20, 2019, 06:54:45 AM |
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I'm still trying to figure out why some people are still using Poloinex exchange, to me it's an outdated exchange, they did not make room for improvement, lots of complain from customers about the exchange, they've got no new good coin being listed. Still yet some people are still investing their hard earned money on this exchange
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countryfree (OP)
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October 20, 2019, 04:15:24 PM |
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We still aren't sure of what's happening. There are many questions.
1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company? 2/ Those mysterious Asian investors, do they actually control the new company? 3/ 100 million $ new investments! Really? What for?
... To be continued...
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I used to be a citizen and a taxpayer. Those days are long gone.
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squatter
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STOP SNITCHIN'
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October 20, 2019, 06:31:13 PM |
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We still aren't sure of what's happening. There are many questions.
1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company? 2/ Those mysterious Asian investors, do they actually control the new company? 3/ 100 million $ new investments! Really? What for?
... To be continued...
The details are scant so far, but I interpret "full backing" to mean that Circle is dumping Poloniex entirely. Jeremy Allaire will be out of the picture for good: Today we are very excited to announce that Poloniex will be spinning out from Circle into a new company called Polo Digital Assets, Ltd. This new company will have the full backing of a major Asian investment group, who plans to spend more than $100M to develop and introduce new features, assets, and services for their global customer base. In this saturated exchange market, this acquisition only makes sense if Circle is selling at bargain basement prices. I don't know what the hell they're planning to spend $100 million on, especially if they're pulling out of the US market. That number might be exaggerated. This is all future tense anyway; the deal isn't even done yet.
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PrimeNumber7
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October 21, 2019, 04:30:16 AM |
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We still aren't sure of what's happening. There are many questions.
1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company? 2/ Those mysterious Asian investors, do they actually control the new company? 3/ 100 million $ new investments! Really? What for?
... To be continued...
The announcement uses the term "spinoff" which implies Poloniex will be an independent company. The $100 million figure sounds suspiciously high, and I would not be surprised if this included the cost of buying the platform and/or capital to facilitate OTC trades.
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countryfree (OP)
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October 21, 2019, 04:51:22 PM |
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We still aren't sure of what's happening. There are many questions.
1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company? 2/ Those mysterious Asian investors, do they actually control the new company? 3/ 100 million $ new investments! Really? What for?
... To be continued...
The announcement uses the term "spinoff" which implies Poloniex will be an independent company. The $100 million figure sounds suspiciously high, and I would not be surprised if this included the cost of buying the platform and/or capital to facilitate OTC trades. Yes, independent company but the original shareholders may still have a part of it. $100 million to buy the platform is very possible. So Circle, which bought Poloniex $400 million would have lost $300 million. Ouch! I guess that if Poloniex really does have new owners, they will make themselves known soon. If there are no news, it will mean the same people will remain in control.
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I used to be a citizen and a taxpayer. Those days are long gone.
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PrimeNumber7
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October 21, 2019, 06:51:27 PM |
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We still aren't sure of what's happening. There are many questions.
1/ Has Circle totally dumped Poloniex, or does remain a shareholder in the new company? 2/ Those mysterious Asian investors, do they actually control the new company? 3/ 100 million $ new investments! Really? What for?
... To be continued...
The announcement uses the term "spinoff" which implies Poloniex will be an independent company. The $100 million figure sounds suspiciously high, and I would not be surprised if this included the cost of buying the platform and/or capital to facilitate OTC trades. Yes, independent company but the original shareholders may still have a part of it. $100 million to buy the platform is very possible. So Circle, which bought Poloniex $400 million would have lost $300 million. Ouch! I guess that if Poloniex really does have new owners, they will make themselves known soon. If there are no news, it will mean the same people will remain in control. Legally, I believe this to be a distinction without a difference. I also believe the deal hasn’t closed yet and probably won’t close for a couple of months. US customers are still able to trade on the platform and Circle has said they will maintain possession of US customers personal information. I would say the deal has probably not closed as long as US customers can still trade.
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countryfree (OP)
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October 23, 2019, 06:01:11 PM Last edit: October 30, 2019, 05:40:07 PM by countryfree |
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One thing which surprises me is that Circle would be giving up on all non-US customers. That's a lot of folks!
Circle would remain an American company serving American people, but the people behind Circle could remain shareholders of a new company serving customers from the rest of the world.
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I used to be a citizen and a taxpayer. Those days are long gone.
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countryfree (OP)
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October 30, 2019, 05:53:05 PM |
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I've received a new email earlier today: Reminder: Poloniex to Spin Out of CircleHello Poloniex Customer,
This is a reminder that Poloniex will be spinning out from Circle into a new company called Polo Digital Assets, Ltd. This new company will have the full backing of a major Asian investment group, who plans to spend more than $100M to develop and introduce new features, assets, and services for their global customer base.
We are incredibly excited to continue working with you and the rest of the global Poloniex community. We have a wide range of exciting new features and capabilities planned for the exchange... So they're incredibly excited, but I'm not! The one and only thing which would make me cheer up would be that the new Polo Digital Assets would pay back what Poloniex stole from me and thousands of other innocent people. Note also that they're still hiding the name of the major Asian investment group which came to their rescue. If everything was neat and clear, there would be no reason to hide their name... I still recommend to stay away from Poloniex, or Polo Digital Assets.
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I used to be a citizen and a taxpayer. Those days are long gone.
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fratoshi
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October 31, 2019, 05:19:14 AM |
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so many reports that Poloniex is a scam, i will say to withdraw all your coins and storage safe in your wallet instead of leaving them on a exchange that is not regulated anymore by the USA regulators. I have read many reports that Poloniex has been systematically locking accounts and that users after log in can see only a white screen, i had an account with them and i left some satoshi and they want me to send them my passport and other information to be able to withdraw but after the KYC leak of Binance i don't trust exchanges anymore. Here some reviews of Poloniex on trustpilot, some are really bad *Stay Away* https://www.trustpilot.com/review/poloniex.com
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countryfree (OP)
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March 19, 2020, 11:56:41 PM |
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Maybe there's still some hope after all.
Yesterday, I've received a payment from Poloniex of 0.0047 BTC. Considering I've lost more than one BTC, that's nothing, but it's still a positive sign. Other people going through the same fate have also received 0.0047 BTC.
I'm not sure what they're trying to do...
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I used to be a citizen and a taxpayer. Those days are long gone.
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PrimeNumber7
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March 20, 2020, 05:35:01 AM |
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I'm not sure what they're trying to do...
<> Third, following the bulk payment next month, we will start reimbursing all future lending fees for impacted customers, until you are made whole. This reimbursement complements our existing policy of reimbursing all trading fees for impacted customers. Even though reimbursing trading fees may not be meaningful for all customers, we are committed to continuing it as many of you are actively trading on our platform and accelerating your repayment as a result.
Finally, in addition to the new reimbursement steps we have outlined above, we continue to work hard to pursue and recover the funds from defaulted borrowers. This is a challenging and lengthy process and we commit to sharing more information as it becomes available in the coming months. It looks like they are expanding the revenue streams they are using to repay lenders who lost coin.
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figmentofmyass
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March 20, 2020, 05:54:27 AM |
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Maybe there's still some hope after all.
Yesterday, I've received a payment from Poloniex of 0.0047 BTC. Considering I've lost more than one BTC, that's nothing, but it's still a positive sign. Other people going through the same fate have also received 0.0047 BTC.
I'm not sure what they're trying to do...
a small, flat payment obviously sucks for larger lenders. it might please lots of smaller lenders though. i think that's the goal. now they can say they fully repaid thousands of affected customers: For those of you whose losses are at or below this amount (and there are over 1,000 of you), you have now been 100% repaid for your losses. It looks like they are expanding the revenue streams they are using to repay lenders who lost coin.
they are just reimbursing lending and trading fees, so if you don't actively use poloniex you get nothing back. tbh, it doesn't sound too promising.
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countryfree (OP)
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March 21, 2020, 02:54:44 PM |
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Yes, I've received their email but since I'm missing more than one BTC, getting 0.0047 is meaningless to me. Except that it show they haven't forgotten. Good, I haven't forgotten either, and I know that free trading is also meaningless to me. Even if I were trading everyday for 10 years, that would not repay me. Fees are just small...
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I used to be a citizen and a taxpayer. Those days are long gone.
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rexxarofmoknathal
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March 22, 2020, 11:30:03 PM |
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I'm surprised that Polo isn't offering to at least compensate in some way, though, given the fault is probably partially on them for offering margin trading on illiquid markets anyways...
...especially when their positions should have automatically closed in the first place.
I'm getting legal advice, and I've received confirmation that pooling losses is illegal. The default is 100% due to Poloniex's negligence. If the other trading platforms didn't allow margin trading on CLAM, that's because they were smarter. I suppose most of these people doing this illegal crap don't actually think that the people they're stealing money from are ever going to pursue them in a legal battle, and that's where they're wrong because they could get away by taking lots of people's money but one day they'll come across one person that won't put up with this. I'm glad you guys have been posting on here, letting everyone here know what type of shady business these guys are running, and that you should never trust a 'business man' so to speak. Anyway, I hope the court rules it all in your favours and Poloneix gets to make it right!
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countryfree (OP)
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March 25, 2020, 12:36:13 AM |
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I'm glad you guys have been posting on here, letting everyone here know what type of shady business these guys are running, and that you should never trust a 'business man' so to speak. Anyway, I hope the court rules it all in your favours and Poloneix gets to make it right!
Yes, we're waiting... In the meantime, we shall keep on talking about it. They did the wrong thing, they may do it again.
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I used to be a citizen and a taxpayer. Those days are long gone.
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countryfree (OP)
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April 19, 2020, 11:48:41 AM |
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Got an email from Poloniex this week: We sincerely apologize for the frustration caused by the margin lending pool incident in May 2019. Regaining your trust is a top priority for us...
Unfortunately, there's nothing new. They just say that I can use their service for free, all my fees will be reimbursed. That's clearly not enough. All the people who had their money stolen have moved their funds, and they don't want to use this service ever again, until we're getting our money back...
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I used to be a citizen and a taxpayer. Those days are long gone.
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kan1
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September 04, 2020, 08:15:18 AM |
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Poloniex still owns approximately 1800btc-180btc=1620btc
This is about 14million euros with current prices and it used to be even less than 7mil
Imagine another exchange that can not payback that amount but still exists.
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DonQuijote
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♠ ♥ ♣ ♦ < ♛♚&#
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October 12, 2020, 01:31:39 AM |
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News? Did you get the money back?
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THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA
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countryfree (OP)
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Your country may be your worst enemy
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October 16, 2020, 09:42:20 AM |
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News? Did you get the money back?
No, I didn't! Nobody got his money back. Poloniex's a real gang of thieves. Stay away from that exchange.
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I used to be a citizen and a taxpayer. Those days are long gone.
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DonQuijote
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October 21, 2020, 07:29:09 PM |
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News? Did you get the money back?
No, I didn't! Nobody got his money back. Poloniex's a real gang of thieves. Stay away from that exchange. "New owner" Circle looks polite, i don't know why they don't give your money back Good luck!
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THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA
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