The other day, I was trading burst coins. I got in on the way and I had some nasty profit. I sold my burst coins for a large % profit but all of a sudden I look and ALL MY BTC IS GONE! And all burst coins are gone! So I open a ticket, my trade history shows no sale of my burst coins. I wait 48 hours for support to respond... They never respond but 48 hours after they disappeared, some coins return. But not the BTC that I should have had from my burst coin sale, no, they returned me all the burst coins which are worth 70% of what I sold them for. Not to mention, I sold had a limit sell order for the peak of burst coins, I had it set to sell if it went below 960 sat. It never fired and I lost 20% on that also. In the last 7 days, Poloniex has stolen nearly 50% of my bank roll from me, all the while I am making really good trades and doubled my bankroll is less than 2 weeks.
Poloniex is stealing money!! Be careful!
8 years ago by skyefox (60)
$0.65
- Past Payouts $0.65
- - Author $0.51
- - Curators $0.14
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Sorry to hear this skyefox i hope it is resolved soon
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Skye, I just started a group of "cryrpto's for very beginners", starting with what an exchange is and which one to go with, the one you mention has been high on the list, what do you say now, should I still recommend this, it's very confusing for those trying to get started late (relatively) in the game..thanks
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My personal believe after being on Poloniex for 2+ years is that they collude with scammers to make these elaborate "technical" scams. They do things like force lag, not fire orders, hold coins, not respond to customer support requests, and blame "hackers" like during the "dao hack". Poloniex can sometimes be a good place to trade, but when its bad, you lose big time. When they do things like, make all your altcoins disappear, hold them for 2 days, then give them back at a much lower value, that's just not right. Sadly I do not even know a better exchange... Cryptsy stole .5 btc from me years ago before going down. And I don't use other exchanges. Sorry.
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Thanks for that reply, I'll keep researching, I don't know what to recommend as I need to pick at least a couple to suggest, a starting point!
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I do not know if it is true, but if you type Burst or Buy burst in the trollbox you get banned by a mod.
So there is something fishy going on for sure
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I experienced this too. Followed.
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Hello,
The only way to be secure is to use a completely decentralized solution such as bitsquare, openledger, etc.
Another option is to use a completely decentralized multi-currency wallet, web or locally based, as long as the keys are not stored on third parties' servers. Then just move the coins to be traded to a centralized exchange. This last tactic does not protect anyone from an event like the one described here, though. It is also a little bit inconvenient given the confirmation periods required.
Now concerning the possibility of prices manipulations or other fraudulent tactics being possible in centralized exchanges, there is plenty of room for that. If I am not wrong, the order book is a separate accounting system than the wallets accounts, that for it is easy to perform various tricks without anyone really noticing.
I would also suggest shapeshifting but its spreads are too high for daily trading.
Regards.
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