87486
Goldman-Backed Crypto Exchange Rattles Users
Goldman-Backed Crypto Exchange Rattles Users

Goldman-Backed Crypto Exchange Rattles Users

Goldman-Backed Crypto Exchange Rattles Users

Poloniex LLC suspended trading and withdrawals until clients upload new documentation required to verify accounts, spurring concern among some users that they won’t be able to recover their funds, Bloomberg reported. The Boston-based cryptocurrency trading platform clarified in a tweet Thursday that users’ “funds will be safe and accounted for at all times as legacy customers complete the verification process.” That didn’t satisfy clients who still asked what happens with money of those who aren’t able to go through the new verification process. Poloniex, which is owned by Goldman Sachs Group Inc.-backed Circle Internet Financial Ltd., is updating its verification process as regulatory scrutiny of cryptocurrency-linked companies increases. The company said in a May 27 post in its website, “like all registered money services businesses, Poloniex is committed to compliance with all applicable law requiring identification and verification of its customers.” While the move is meant to improve users’ verification, a string of tweets from accounts impersonating Poloniex, asking for digital tokens, followed the exchange’s original tweet, in what’s become a common scam in the cryptocurrency world.

 

Short URL : https://goo.gl/CG1frS
  1. https://goo.gl/mZi9pT
  • https://goo.gl/vahNZm
  • https://goo.gl/SAE9d2
  • https://goo.gl/7KNTWL
  • https://goo.gl/3q8mys

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
World Shares Snap Five-Day Losing Streak
World stocks steadied near three-week lows on Wednesday and...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
Egypt to Get $2b From IMF in July
Egypt is set to be given the fourth $2 billion tranche of the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus