I know that a lot of people have issues with Poloniex. At least since they closed down the transfers of SBD and STEEM quite regularly and without giving reasons. There are other issues. But a short time ago they have been bought by a Goldman Sachs linked enterprise. Some hoped this would be a game changer in quality and security. Some hoped soon Steem/SBD could be again traded. Some where afraid. Most people with more insight warned long time ago not to use Poloniex. Now it happened:
Today I (and I suppose many more) recieved an email from Poloniex:
Hi XXXXXXX,
We are requiring that all legacy Poloniex accounts become verified through the latest version of our verification portal. Our records indicate that you have a legacy account. Please visit your profile page and follow the instructions to complete this verification. During the process, you’ll be asked to provide a verification photo of yourself as well as a photo of a valid government-issued ID card or passport. When taking your verification photo, please follow these guidelines.
We appreciate your cooperation in this process. You will not have the ability to use your Poloniex account until your profile verification is complete, so please take action on this as soon as possible. Once we receive and verify your information, full account functionality will be restored, and your daily withdrawal limits will be increased to $25k USD equivalent.
You’ll have 14 days from the date this email was sent to verify your account information.
As a registered money services business, Poloniex is committed to compliance with all applicable law requiring identification and verification of its customers. If you have any questions about these or any other Poloniex terms, feel free to take a look at our terms of service and privacy policy.
The Poloniex Team
Well on first glance you may say, that this is nothing special, nothing out of "normal" even you could say this is something good for further security + legality. All this could be true.
What I read is:
"If you don't officially register your account with ID + picture in the next 14 days, your account will be closed and your money is gone"
I have to admit, I did not read the terms of use, yet (and probably won't do so in future).
A lot of "what if" situations come to mind:
What if you are a 16 year old prodigy holding 10 BTC on poloniex without your drunkard parents knowing?
What if you are a woman in Iran or elsewhere, where this account is your only "future liberty" and you will not be able to register without your violent husband knowing
What if you are an anonymous freedom fighter, who NEEDS to stay anonymous, while depending on the income stream?
Sure there are still other possibilities.
Fortunately for me, only a week ago I made this:
So lucky me!
What do you think? More Security or less Freedom, or both?
pic found here on jimmysinsight.com
They can have my fricking account. I have 0 balance there, and have had 0 balance for months.
My problem stemmed from a customer service standpoint. I had a (granted small) problem that took a month to resolve. Email only, and I would email, wait 4 or 5 days for a canned response that had nothing to do with the problem, email again and wait 4 or 5 days...
I'm not surprised, to tell the truth.
Informative post.Thanks for sharing it.
the more freedom crypto gave us
the more less freedom these exchanges are giving now
i recently tried to open account there but after these multiple verification steps i changed my decision
This is shady business.
This is a complete no, I'm glad I don't use poloniex
thanks for sharing such an important details sir @pollux.one
Less freedom, if you ask me.
This is really sucky from Poloniex.
And they've removed steem/sbd
my two friends here on steemit also effected with this issue and are much depressed because their money stuck in this exchange.
Here you life happiness-sorrow the success of the failure of daily the feeling of love at the moment or suddenly was going to events to share may with friends
Ever since I came to know about this site, people have been complaining about it over and over again. I'm glad that I stopped using their services and stick to this decision. I also feel for those who did not learn a lesson and kept using it on. You still have time to stop using this site. BTC is soon going to bounce back hard and during those times, there are 100% chances that sites like Polonix will be jammed.
Ok, security comes first but that's not mean you have over ruled out on my freedom, you're provide customer service and should be ensured my priority with your policy. As you've taken my money on your pocket.
I will go with more security because nowadays it is serious issue.
I always have stayed away from Poloniex well hope everyone gets their their share out of that asap
Just reading this gives me a queasy sick feeling. This is an aspect of the crypto phenomenon that doesn't get the attention it deserves. Imagine if you were backpacking with a round-the-world ticket? Or you went on a month long meditation retreat to get away from it all, and you come back and your account is gone.
Hope all goes well, fingers crossed for you.
Going legal l guess
well I really have nothing in the name of a "balance" with them, but I actually did all that verification stuff with them initially when they did open. After they stopped dealing with steem and sbd I kinda started disliking them little by little. I really hope they get their issues sorted out quickly, because some poeple might just forget to check their mail and have this particular mail buried by countless others, only to check 15 days later and find that al hell has been let loose. THat would really be a heart-shattering...
they previously told everyone about that i guess about three months back the verification was necessary
😂😂😂😂😂
Fortunately for you. I'm sure you gave yourself a path on the back for your decision to move your money out before this happened...
I think it's going legally insane after reading all you've put down here.
Everything will be fine in the end,certainly.
BYE BYE POLO!