Quote from: countryfree on June 15, 2019, 03:55:43 PM

Alleluia!
Things are getting better.

The dates are as follows.

May 26th: 1,800 BTC loss for Poloniex because of the Clam crash.
June 6th: Poloniex covers its loss by seizing money from its customers.
June 14th: Poloniex has realized something went wrong, and it starts to reimburse its customers. I have about 10% back, and in an email, Poloniex wrote that "You can expect additional payments in the future."

It's great, great relief, even if I'm still waiting for the remaining 90%.

glad to hear it. i was amazed they left lenders in the lurch and am glad to see they've seen the error of their ways. screw over your lenders like that and liquidity will suffer!

Quote from: Thirdspace on June 15, 2019, 11:57:03 PM

I don't quite understand this, they have faulty lending system but make their customers pay the losses?
so was the clam price artificially pushed high to exploit this opportunity?
or it was just simply a coincidence sudden price crash caused this

it was poloniex's fault, exacerbated by dumb borrowers margin longing shitcoins with no liquidity. they allowed buyers to build leveraged positions much larger than actual market liquidity could support. then came a flash crash that wiped everyone out. borrowers were heavily in default and poloniex refused to cover those losses. seems like they are changing their minds now.