Post
Topic
Board Exchanges
Re: Poloniex Fair Fund notice
by
ltcrstrbrt
on 30/11/2024, 17:40:47 UTC
So, from what I understand, the release of the funds has just happened with the update from a couple days ago (edit: seems not, just the instruction to release, right?). And the documents state that they will make payments within ten days, which, according to the quoted reply above, has now become "within ~30-40 days"?
Yes, it sucks and I'd prefer earlier rather than later, too. But imagine sending 5 million dollars in transactions between 9 and (I'm guessing here) 50.000 dollars. Since the lower end usually has the most users, it's very likely a fuckload of payments to make. I would not wanna be responsible for that, let alone plan this around the other everyday business stuff or actually sending the funds to each and every user.
My impression (from former communication, their oldish website, their mails sometimes gotten flagged as spam etc), I doubt that they have an automated implementation of the process where they press the "send funds to all users" button and all is done in an instant. So for now, I suggest to not mass spam their mailboxes. Maybe someone ask "wen lazy dev giebs money for muh femeleh" (maybe better phrasing than mine here) and then we might get a reply without further delaying the process with mails which have little chance of success to finish this earlier. Smiley
The payments are made via bank transfer ( wire, online digital etc and check  ...) the process is automated  .. all the payments are done in few seconds once the bank have the list of all claimants ... so are the fund administrator incompetent ? probably they can t handle the situation ..but wait ..there was more than one year to prepare for this... I dont think the funds are released yet... because if the funds are released into escrow account they have 10 days to make these payments...