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Poloniex Disables ETH, BNB and ERC-20 Wallets for Maintenance. Are Funds Safe?

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Tue, 02/23/2021 - 12:11
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Yuri Molchan
US-based Poloniex exchange has temporarily disabled its wallets holding ETH and ERC-20 tokens until further notice
Poloniex Disables ETH, BNB and ERC-20 Wallets for Maintenance. Are Funds Safe?
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While Bitcoin, Ethereum and other crypto markets are struggling to get out of the red zone, U.S.-based exchange Poloniex has temporarily stopped users from accessing their ETH and ERC-20 wallets and is performing maintenance.

The same is true for BNB and BEP-2 wallets.

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Image via Twitter

The exchange has promised to enable wallets as soon as maintenance is complete.

Related
Poloniex Exchange Down Due to Unexpected Issue, Investigation Underway

On Feb. 17, Poloniex faced a similar situation when trading and all other operations were halted as the exchange was in maintenance mode.

Back then, Poloniex faced an issue unexpectedly and started an investigation. The tech support team assured users that their funds were safe.

The results of the investigation were not announced. However, judging by its Twitter page, over the past few days, Poloniex has been disabling wallets with various crypto coins and then switching them back on.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.