Poloniex Resumes Withdrawals and Deposits After $100 Million Hack
Cryptocurrency exchange Poloniex is preparing to resume withdrawals and deposits after suffering a $100-million hack on Nov. 10.
Gradual Resumption of Services
Poloniex took to X (formerly Twitter) on Nov. 29 to announce that it will be gradually resuming deposit and withdrawal services on Nov. 30 at 2:00 am UTC.
Phased Approach for Safety
The crypto exchange stressed that it will implement a phased resumption of the services to “prioritize the safety” of user funds. Poloniex will specifically start restoring Tron (TRX) deposits and withdrawals first, followed by Bitcoin (BTC), Ether (ETH), Tether (USDT) and other cryptocurrencies “within the next two weeks,” the announcement said.
New Listings and Updated Deposit Addresses
In addition to restoring withdrawals, Poloniex said it is actively working on introducing new listings, which will be available in the near future. The exchange also requested that all users utilize the newly updated deposit addresses once they become available.
“Please note that failure to use the updated addresses for deposits will result in the funds not being credited. We apologize for any inconvenience this may cause and appreciate your understanding.”
Airdrop Campaign for Users
In the same announcement, Poloniex also promised to conduct an airdrop for users who keep their assets on Poloniex. Developed in partnership with HTX DAO, the airdrop campaign is expected to launch in December, with asset balance calculation commencing on Dec. 1. Tron founder Justin Sun previously announced the airdrop plan on Nov. 24.
Hot Take: Poloniex Bounces Back After Hack
Cryptocurrency exchange Poloniex is making a comeback after a $100 million hack, with plans to gradually resume deposit and withdrawal services. The exchange will prioritize the safety of user funds, starting with the restoration of Tron deposits and withdrawals. Bitcoin, Ether, Tether, and other cryptocurrencies will follow suit in the next two weeks. Poloniex is also working on introducing new listings and has requested users to utilize updated deposit addresses. Additionally, the exchange will conduct an airdrop campaign in partnership with HTX DAO for users who keep their assets on Poloniex. With these measures in place, Poloniex aims to regain trust and provide a secure platform for crypto traders.
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