Poloniex Announces Restoration of Deposits and Withdrawals

Poloniex Anticipates It Will Require Several More Days to Complete
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Poloniex, a prominent cryptocurrency exchange, has recently provided an update on the restoration of its deposit and withdrawal services following a significant setback.

The platform confirmed that it has made considerable progress in its restoration efforts and is now running smoothly.

In response to the previous security incident, proactive measures have been taken to strengthen the security of user funds.

To this end, the exchange has retained the services of a top-tier security auditing firm within the cryptocurrency industry.

This firm is currently in the final stages of conducting a comprehensive audit and verification processes aimed at strengthening all of the platform’s security protocols.

Poloniex anticipates that it will require several more days to complete

The platform expressed gratitude for users’ patience and understanding during this evaluation period. Poloniex emphasized its commitment to promptly resume deposit and withdrawal services once the security audit is satisfactorily concluded.

The exchange assured users that it will provide separate announcements to communicate any additional updates or developments related to this matter.

On November 10, Poloniex was the victim of a serious security attack in which perpetrators stole at least $100 million in cryptocurrency from the exchange.

Upon detecting suspicious movements, the Poloniex team immediately deactivated the affected wallet. According to blockchain security firm CertiK, this incident likely arose from a “private key compromise.”

This situation represented a crucial challenge for the platform, leading Poloniex to radically reinforce its security measures, with the aim of restoring the trust of its users.

Poloniex Announces Restoration of Deposits and Withdrawals

Hiring a reputable security auditing firm underlines Poloniex’s proactive approach to addressing the consequences of the security incident, with the aim of restoring users’ trust in the platform.

Poloniex owner Justin Sun had previously promised to refund users affected by the hack, affirming the exchange’s strong financial position and efforts to collaborate with other exchanges to recover lost funds.

As the evaluation progresses, Poloniex encourages users to stay informed through official announcements and reaffirms its commitment to ensuring a safe and reliable trading environment.


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