Poloniex Has Problems with Bitcoin Cash SV Withdrawals

  • Antony Koroid
    📰 News

    One of the world’s top crypto exchanges, Poloniex, reports having some difficulties in processing transactions with Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash SV(BCH SV)


Poloniex Has Problems with Bitcoin Cash SV Withdrawals

One of the world’s top crypto exchanges, Poloniex, having launched the trading of the coins created from Bitcoin Cash’s hard fork, reports some difficulties in processing transactions with Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash SV (BCH SV).

Initially, the company temporarily disabled BCHABC deposits and withdrawals. Later came BCHSV withdrawal difficulties, with withdrawal requests failing to reach relevant blockchains.

"As a result, we disabled both wallets", the exchange said.

Later this morning, Poloniex confirmed that it had resumed working with BCHABC in/out directions, but the problem with BCHSV hadn't been solved. At the same time, all withdrawal requests that couldn't be transferred to the crypto network were canceled.

Poloniex added BCHABC and BCH SV on November 21. Then the exchange warned its customers that transactions with them need some more confirmations after the network's instability — about 30 for BCH ABC and about 144 for BCH SV.

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In early November, nChain’s founder, Craig Wright, stated that Poloniex broke the law by opening the bidding BCH ABC and BCH SV coins before the scheduled official hard fork. According to him, Poloniex actually offers speculative short sales prohibited by US law.

Poloniex has announced that it will support both Bitcoin Cash coins that appeared after the hard fork. Despite the probable chain separation, the exchange has already launched trading the relevant coins.

Cover image via u.today
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The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.

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