Post
Topic
Board Service Discussion (Altcoins)
POLONIEX is holding my $6,439 USD hostage. <resolved>
by
melo
on 31/05/2017, 14:02:40 UTC
It seems that Poloniex will hold your money hostage unless you make a forum post about it.  See:

https://bitcointalk.org/index.php?topic=1893008.60
https://bitcointalk.org/index.php?topic=1907457.0
https://bitcointalk.org/index.php?topic=1907678.0
https://bitcointalk.org/index.php?topic=1834015.0

So this forum post will stay up until Poloniex has returned my $6,439 USD.

A few days ago around May 10th, Poloniex experienced a DDoS attack and had trouble processing withdraws, understandable.  However a week later, people were still having trouble withdrawing.  So, on May 21st I tried a small withdraw of .001 btc.  Hardly a large amount and definitely not over any withdraw limit.  24 hours later, no response.  Mods in trollbox say to wait and be patient.  I file a support ticket.  Everyday I ask the mods to bump my support ticket and still no response from support.  So the way I see it there is a problem because Poloniex is not being transparent.  No one has any idea why Poloniex is freezing withdraws.  In anticipation of typical responses to this thread:

1) "You withdrew over your limit":  .001 BTC is hardly an amount that should trigger "OMG that's a huge withdraw!" flags.
2) "They usually respond in 24 hours, but resolution can take 3-5 days":  IT HAS BEEN 10 DAYS and not a single response not even in the first 24 hours. No explanation. None.
3) "I am having no problems withdrawing, you must be overreacting":  The problem is that poloniex is not being transparent about why they are holding withdraws.  This means that at any moment they might choose your account to be frozen too.  I was having no problems with withdrawing... until I did.


So after 10 days of asking poloniex to give me my money back, I am done.  I will check my wallet everyday for a successful withdraw.  If it does not, poloniex has officiallly stolen $6,439 USD of my money.


13 days later, my withdraw has been processed.  I made a 2nd withdraw and that was processed right away.  I am glad it was resolved but I am still wary.  No real explanation for the delay was offered.  I have decided to keep this post up to let other users know that Poloniex may hold their funds from time to time.