Rumors of Insolvency Circulate Among Users of Bitcoin Exchange Poloniex, Support Slow

From Cointelegraph

Rumors have been circulating about the possible insolvency of Poloniex prompting users of the Bitcoin exchange platform to share their own dissatisfaction with the platform and increasing frustration for the lack of timely customer support.
The rumor first started in post in 4chan where a user claimed that Poloniex is on its way to insolvency giving the many issues that it is encountering. While the user did not give any telling evidence to the claim, the post garnered enough attention from many users recalling their most recent disappointing experiences on the exchange platform.

On Reddit, one user also floated the issue of Poloniex insolvency after his account containing $70,000 was hacked. Alexander Levin explained that his Poloniex account was hacked a month ago. He said he immediately created a ticket, thus far Poloniex is yet to respond to his issue, making him conclude that the company might be in insolvency.

Alexander Levin writes:

“I have a support ticket with Poloniex and have been updating it every day, to no avail. They never respond. Because this is quite a large amount of money, it makes absolutely no sense that they would not reply to my requests, except to say that that a reasonable person would consider them insolvent.”

Withdrawals and frozen accounts
Several other users have been very unhappy and unsatisfied with how Poloniex is addressing the rumors and their specific issues.

With their accounts frozen and withdrawals disabled, more users are becoming more worried that the rumors could be true.

Another Reddit user shared how his $15,000 was frozen for three weeks without hearing any word from Poloniex, with the thread prompting others to share their own disappointing experiences with the platform.

“I have tried contacting everyone I can find with any ties to Poloniex, each time I was met with no reply. $15,000 might not be a lot for some people, but for me, it's the difference in being able to pay my bills. I have waited over 25 days with no reply to my ticket. Please help me by upvoting this so Poloniex will be forced to fix this for me. Thank you so much for all your help. Ticket #228146.”

While occasional service disruptions are becoming a normal occurrence in exchange platforms due to various factors including possible DDOS attacks and increasing demands, it is the lack of response from Poloniex team that’s causing the most alarm to its users.