Poloniex to Restart Deposits and Withdrawals after $100M Hack, Plans Airdrop Campaign
Summary:
Recovering from a $100 million hack on November 10, cryptocurrency exchange Poloniex is set to resume its deposit and withdrawal services from November 30, commencing with Tron (TRX) and continuing with Bitcoin (BTC), Ether (ETH), Tether (USDT), and other cryptocurrencies within the next two weeks. The platform is also preparing new cryptocurrency listings and urging users to utilize updated deposit addresses. In partnership with HTX DAO, Poloniex is planning an airdrop campaign for users storing their assets on the exchange, set to launch in December.
Poloniex, a cryptocurrency exchange platform, is getting set to restart its deposit and withdrawal features, following a security breach that resulted in a loss of $100 million on 10th November. Announced via the platform X, which was previously known as Twitter, on 29th November, Poloniex declared its plan of gradually recommencing deposit and withdrawal facilities from 30th November at 02:00 am UTC. By adopting a careful and measured approach to re-initiating these services, the crypto exchange wants to ensure utmost safety and security of the funds held by its users. Initially, the platform will reactivate Tron (TRX) deposit and withdrawal services, with Bitcoin (BTC), Ether (ETH), Tether (USDT), and other digital currencies following suit in a fortnight, as per the announcement.
While it works on resuming withdrawals, Poloniex is also focused on introducing new digital currency listings, available for users in the near future. Users are encouraged to use the most recently updated deposit addresses once they are made available. Any deposits made to outdated addresses may result in non-credit of funds, apologizing for any inconvenience caused due to this updating process, the exchange platform urged for users' understanding.
In the same notification, Poloniex announced future plans of launching an airdrop campaign for users that store their assets on their platform. The campaign, a collaboration with HTX DAO, is projected to begin in December, and the calculation of asset balance will start from 1st December. Information regarding this airdrop campaign was initially put forth by Tron's founder, Justin Sun, on 24th November.
The release underlined that the airdrop tokens would be sourced from a premium project awaiting listing. Further details concerning this event are scheduled to be shared in December.
In the resumption announcement, besides emphasising Tron for withdrawals - a digital currency founded by Justin Sun, Poloniex also mentioned the entrepreneur. Over the past couple of months, crypto platforms associated with Sun, including HTX and Poloniex, have experienced four hacking incidents, accumulating a total loss of nearly $240 million.
Published At
11/29/2023 2:19:35 PM
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