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Poloniex Exchange Faces Unexpected Issue, Are Funds SAFU?

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Sat, 12/05/2020 - 08:08
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Yuri Molchan
Poloniex exchange has suspended customer service as it has faced an unexpected issue but Justin Sun promised that operations will resume as soon as possible
Poloniex Exchange Faces Unexpected Issue, Are Funds SAFU?
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Poloniex exchange, whose major investor is the Tron CEO Justin Sun, tweeted it faced a sudden issue about an hour ago and has been investigating since then.

No detailed have been shared yet. However, Justin Sun has several times posted a tweet, saying that funds are SAFU and Poloniex will resume operations as soon as possible.

SUN
Image via Twitter

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Users in the comment thread are complaining and ask to clarify how long solving the issue may take. Some of them also insist that the exchange should hire an independent audit company to check their security system to avoid these issues in the future.

SUN
Image via Twitter

Poloniex is back online

Less than an hour since the abovementioned tweet about funds being safe, Justin Sun addressed the community to announce that Poloniex is back online and market operations will resume soon.

Polo
Image via Twitter
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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.