Poloniex Fair Fund notice

[ltcrstrbrt]

  Wondering how many people got notice from KCC ( Poloniex Fair Fund administrator) this morning. From what I know, US Poloniex clients got their notice few months ago ( if someone can confirm  this...)
  How do you think it'll end up?

[1715216551]

1715216551

[1715216551]

1715216551

[1715216551]

1715216551

[DaveF]

US based, got mine 6 months ago on March 1st.
Filled out the form got a confirmation the next day.
Have heard nothing since then, but I really do not expect much, so did not check on it till now still no updates.

Where are you based out of?

-Dave

[ltcrstrbrt]

I'm from Romania.

That's the final notice ( deadline Oct 1st ). KCC is legit from what I see. I'm expecting some notice from Kraken and also from Bittrex  ( only for Bittrex US users).
I wouldn't be surprised at all to get something from Binance also..( but there are two separate entities, US and Global).

[cubyc]

I'm from Romania.

That's the final notice ( deadline Oct 1st ). KCC is legit from what I see. I'm expecting some notice from Kraken and also from Bittrex  ( only for Bittrex US users).
I wouldn't be surprised at all to get something from Binance also..( but there are two separate entities, US and Global).

Salutare!

What do you mean deadline 1 Oct?

[DaveF]

I'm from Romania.

That's the final notice ( deadline Oct 1st ). KCC is legit from what I see. I'm expecting some notice from Kraken and also from Bittrex  ( only for Bittrex US users).
I wouldn't be surprised at all to get something from Binance also..( but there are two separate entities, US and Global).

Salutare!

What do you mean deadline 1 Oct?

Different countries have different dates. The www.poloniexfairfund.com site is for US people. Users in other parts of the world that are still entitled to getting something got different notices from KCC.
If you did not get a notice from them or someone else you were not entitled to get something in the settlement. It's a large convoluted legal mess.

I know someone in the EU who in theory *was not* entitled to anything, but since when he setup his Polinex account he was living here he did get a notice.

-Dave

[Saint-loup]

I'm from Romania.

That's the final notice ( deadline Oct 1st ). KCC is legit from what I see. I'm expecting some notice from Kraken and also from Bittrex  ( only for Bittrex US users).
I wouldn't be surprised at all to get something from Binance also..( but there are two separate entities, US and Global).

I'm from European Union too (France) but I didn't get anything from them sadly. I don't know how many people are eligible to the compensation, but the amount shared and distributed seems to be rather large. I don't think you will get this kind of reward from Bittrex since they are already closed and will only share the remaining money they have between customers who had still funds onto their account when they've closed their doors.

The Commission ordered Poloniex to pay $8,484,313.99 in disgorgement, $403,995.12 in prejudgment interest, and a $1,500,000 civil money penalty to the Commission. The Commission created the Poloniex Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty paid, along with the disgorgement and interest paid, can be distributed to harmed investors.

[ltcrstrbrt]

 Guys don't forget to submit W-9 form ( or W-8 BEN  for non-residents of US). The deadline is Nov. 10th 2023!

[CoinBitter]

Guys don't forget to submit W-9 form ( or W-8 BEN  for non-residents of US). The deadline is Nov. 10th 2023!

What is that and where can I find that?

[JeromeTash]

What is that and where can I find that?

You should have probably received a notice or some sort of link with instructions on how to start your claim process on your email address registered with Poloniex. If you didn't, then that's it. There's nothing you can do.

[ltcrstrbrt]

What is that and where can I find that?

You should have probably received a notice or some sort of link with instructions on how to start your claim process on your email address registered with Poloniex. If you didn't, then that's it. There's nothing you can do.

Yeahh, only eligible traders who traded certain cryptocurrencies on Poloniex between 2017 and 2019, will receive compensations ... ( in fact, the transaction fees charged by Poloniex will be returned back to the traders).

[allyouracid]

I'm from Germany, received my first mail in the Mar-Apr time, had to deliver proof of identity (which was a bit complicated due to name change + address change, but with all related documents, it was no problem) and send them screenshots of my trades (not all, only a few, so I can verify I did trade those assets) which I assume they match against their database to see if my records line up with theirs. I sent a follow-up mail a couple weeks ago, but only got back their standard reply, "we'll notify you in case of any updates". They didn't even mention how much money was claimed in relation to the overall fund, so fk knows how much we'll get, if anything.

But since the fees paid in the relevant time frame amount to an okay middle class car, I thought why not. It's not everyday that US govt knocks on my virtual door with a virtual envelope full of money (or half-full or maybe even empty), so I gave it a try.

[ltcrstrbrt]

I'm from Germany, received my first mail in the Mar-Apr time, had to deliver proof of identity (which was a bit complicated due to name change + address change, but with all related documents, it was no problem) and send them screenshots of my trades (not all, only a few, so I can verify I did trade those assets) which I assume they match against their database to see if my records line up with theirs. I sent a follow-up mail a couple weeks ago, but only got back their standard reply, "we'll notify you in case of any updates". They didn't even mention how much money was claimed in relation to the overall fund, so fk knows how much we'll get, if anything.

But since the fees paid in the relevant time frame amount to an okay middle class car, I thought why not. It's not everyday that US govt knocks on my virtual door with a virtual envelope full of money (or half-full or maybe even empty), so I gave it a try.

In your first notification email which you got from them, you have all the info ( including "Recognized Loss" amount in USD).
This year is no way to get these funds ... maybe next year ... most probably. 

[allyouracid]

In your first notification email which you got from them, you have all the info ( including "Recognized Loss" amount in USD).
This year is no way to get these funds ... maybe next year ... most probably. 

Yes, the initial mail had all the information. But the amount stated there is most likely not the amount we'll receive. With the fund being, what was it again, 1.4m? If the claims amount to, say 14 million, then everybody will only receive 10% of the amount stated in the mail.
And now that the time frame to register a claim is over, they should have that information and at least be able to give a rough idea for what we can expect.

[P4ndoraBox]

So far I didn't get news since many months.

The only ''news'' I noticed is that after a few claim date change, we can't do claims anymore.

Anyone else has some news or wtv ?

I sent them an e-mail today about a possible address-bank change, without sharing my claim ID, will wait for whatever answers I could get, but I don't expect one until the second week of january. Will let you know once I got my answer, I'll reply by asking them how things goes and stuff and share it here.

[ltcrstrbrt]

So far I didn't get news since many months.

The only ''news'' I noticed is that after a few claim date change, we can't do claims anymore.

Anyone else has some news or wtv ?

I sent them an e-mail today about a possible address-bank change, without sharing my claim ID, will wait for whatever answers I could get, but I don't expect one until the second week of january. Will let you know once I got my answer, I'll reply by asking them how things goes and stuff and share it here.

The payment date is set for next year...let's hope it'll not take too long.

[bbc.reporter]

I reckon the people who received fair fund notices should also contact the exchange and confirm if this is a scam or not. I would not trust any email claiming to be from a law office and asking us to give our personal and payment information to them.

Also, @DaveF shared a website. Has anyone done a background check already?

[ltcrstrbrt]

I reckon the people who received fair fund notices should also contact the exchange and confirm if this is a scam or not. I would not trust any email claiming to be from a law office and asking us to give our personal and payment information to them.

Also, @DaveF shared a website. Has anyone done a background check already?

Relax, everything is ok... confirmed from SEC and KCC LLC.

[P4ndoraBox]

So far I didn't get news since many months.

The only ''news'' I noticed is that after a few claim date change, we can't do claims anymore.

Anyone else has some news or wtv ?

I sent them an e-mail today about a possible address-bank change, without sharing my claim ID, will wait for whatever answers I could get, but I don't expect one until the second week of january. Will let you know once I got my answer, I'll reply by asking them how things goes and stuff and share it here.

The payment date is set for next year...let's hope it'll not take too long.

I forgot to ask them what is the ETA, but when I asked them a question about address change, or bank change, I received an answer in less than 24h.

[P4ndoraBox]

I reckon the people who received fair fund notices should also contact the exchange and confirm if this is a scam or not. I would not trust any email claiming to be from a law office and asking us to give our personal and payment information to them.

Also, @DaveF shared a website. Has anyone done a background check already?

Confirmed at the SEC website, everything is legit.

[Basewave]

Does anyone have news? When will we receive these funds?

[P4ndoraBox]

still no news yet.

[P4ndoraBox]

So far, it seems it should be around mid-year, this year.

[Metamorph]

I received an email that they couldn't send me money because my country under the restrictions of OFAC. I live in Bulgaria, I have not heard of such restrictions.They give me a link to submit documents on a site. I open the link - it couldn't be online, only by phone. Now I'm going to get up to turn intercontinental conversations ... How not. Excuses.

[P4ndoraBox]

https://home.treasury.gov/news/press-releases/jy0208

https://cepa.org/article/u-s-bulgaria-sanctions-a-warning-shot-across-the-eus-backyard/

[ltcrstrbrt]

So far, it seems it should be around mid-year, this year.

Yeahhh, the funds should be distribute this year ( June ,July ) according to "Plan of Distribution "...

[P4ndoraBox]

Finally some good news, heh.