Delaware DoJ Takes Special Interest in Poloniex
Recently, Poloniex, a digital exchange has drawn the attention of the DDoJ and its investor protection force. In an email, the chief officer of the IPU sent several participants emails, pleading with them to directly call him should any issues regarding their accounts happen.
The FCPD protects individuals from malicious attempts at fraud related to securities, consumer fraud and other crimes of the same sort. As for the IPU, its main objective is maintaining the Delaware Securities Act (DSA) and enforcing its conditions as well as regulations should one company or business commit any related activities.
Users registered with Poloniex have been expressing anger and outcry towards deposited assets and ones that seemed to be stuck in holding. On a Reddit page, one of the complaining users stated that he was among the massive number of users that couldn’t withdraw deposits or had them go missing. He explained how his account was there and contained his assets yet he couldn’t get access to them and that the number of confirmations and so on was displayed but not nearly as accurate on his account.
Complaints about frozen assets and accounts have been made, with the company yet to make an official announcement or statement. Since the number of complaints is countless, one user was forced to terminate his account after the number of complaints became too much. A user on Reddit going by PoloniexSuit said that a lawsuit against the company was inbound and the user will be spearheading the lawsuit against them. The same user stated it was absolutely necessary to look for legal action against the company and with plenty of reasons.
Earlier this year, other complaints surfaced after users complained about being unable to access their accounts, as well as the accounts themselves freezing after users were forced to undergo new identification procedures. Users with registered accounts stated that once Poloniex confirmed their credentials, they were told to continue as normal with the exception of their prior account and how it was now blocked.
The company was also accused of retaining and withholding credit for users and their accounts after a participant stated that they're canceled orders would not see any USD returns. Although they claim that canceling orders is normal with the exception of the latest one. An Estimated value of possession continue decreased and never climbs back up.