Started in 2014 in the USA, Poloniex Exchange purely deals with a crypto-to-crypto network. Poloniex is one of the most active trading platforms available which offer 140 Bitcoin and Monero markets and other margin trading and lending services.

The Poloniex U.I is supposedly easy to navigate and friendly to the users. Active traders can use several available tools like the technical analysis charts for latest updates on crypto. An additional live chat option is also available which addresses the user’s queries if any.

The auditing program that monitors all transactions that occur makes Poloniex a strong platform and this service run 24*7 assuring the safety of money within the exchange to the customers. All the money that is transacted is stored in offline mode using air-gap cold storage and authentication is additionally available to secure all the accounts.

Recently, a fake Poloniex app has been circulating on the Google Play Store. This is an imposter and maybe malicious as there is no official Poloniex app.

The Twitter account of Poloniex Exchange tweeted:

“We’ve been made aware of false reports coming from the creator of an impostor Poloniex app that the Poloniex platform has been compromised…”

They retweeted within minutes with a warning:

“This phishing scheme was aimed at various exchanges and the impostor has now chosen to publicly post sensitive user information of the victims – a highly unethical act.”

Many of the customers have also complained about bad customer support services while the Poloniex team has been promising them with upgrades and improvements and are getting better every day. They conduct a thorough AML and KYC procedure for all users even if no deposits or withdrawals are recorded.

Twitter user, David Poole commented:

“Still waiting over a month now for a reply to my support request. Not one word from @poloniex on the funds you’ve failed to deposit in my account. You are frauds.”

Chandra Raul, a recent cryptocurrency investor, trading through Poloniex says,

“The support is fucked, been waiting for the past month, no response. I’m sure would not fall for the fake app, if Poloniex doesn’t have the time to reply to their users, I’m sure they don’t have time to create an app. I love my Bitcoins, moving to another platform”

There are very limited exchanges unaffected by issues in the crypto world where crypto exchanges are struggling with partnering banks.

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