Introduction
Poloniex claims to be a cryptocurrency exchange; however, many users have published many troubling complaints. Investors noted their wallets were frozen, they also had assets delisted, and the client service was also terrible. In practice, these reports indicate that Poloniex is putting users’ funds at risk.
Wallet freezing and loss of assets
Many users have posted that their wallets were inexplicitly frozen. Reportedly, in one case, an investor’s coin wallet was frozen for weeks, and then completely delisted without the user having any way to withdraw or recover the funds. Many users reported having lost thousands.
Dishonest Customer Service
Many Poloniex users reported customer service to be unhelpful and often suggested canned responses repeatedly. Some users reported only getting “we’re fixing the issue”, or something of that nature, but actually never fixed the issue. Finally, some users reported that persistent users were blocked on their chat service.
Delisting Assets Without Notice
Another concerning trend was being delisted without notice or a withdrawal window. There were many instances where users were told to be patient while we “fixed” their wallets, only to later learn they were delisted and still had no way of recovering their large investment.
Reputation and Safety Concerns
With all the complaints, there are legitimate trust concerns at Poloniex. Any exchange that restricts the ability to access wallets, ignores concerns from the users, and simultaneously removes assets from an account without notice, should be considered very high risk. Users should transfer cryptocurrency assets to self-custodian wallets like MetaMask for their safety, not be stagnant on exchanges of this nature.
Frequently Asked Questions
1. Is Poloniex a legitimate exchange?
No. There is no evidence of legitimate regulation, so the platform is a very high risk.
2. Are users able to withdraw easily?
Many users report an inability to withdraw or wallets that were frozen, causing blocked withdrawals, and permanent loss more often than not.
3. What will cause assets to be delisted on Poloniex?
Many people say that if an asset is delisted and you have no notice before it, you have lost all the assets you had there.
4. Do you have a complaint process? Customer support?
Customer support does not respond; they respond occasionally, but provide the same generic reply far too many times, and they will block you for disagreeing with their response!
Conclusion
Poloniex has so many red flags associated with scams, frozen wallets, delisted assets, bad customer support, and a completely unregulated exchange. To protect your investment, it is in your best interest to avoid this exchange and use more reputable and safe alternatives.
Reclaim Your Lost Funds with Cyber Scam Recovery Services
If you have been victimized by a Poloniex scam or any other fraudulent scheme, consider seeking assistance from reputable organizations like Cyber Scam Recovery, which specializes in fund recovery. Our free consultations can guide you through the process of recovering your funds, ultimately prioritizing your financial well-being. Stay watchful and informed to safeguard your financial interests in an ever-changing financial world.
If you have fallen victim to forex scams, cryptocurrency scams, or any other fraudulent activities, reach out to us for assistance and support.
Visit Twitter
Visit Tumblr
Visit Medium