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Mysterious Poloniex Downtime Prompts Community Frustration

Cryptocurrency trade, Poloniex, skilled unscheduled downtime on April 24 earlier than resuming buying and selling for all pairs besides GRIN/BTC.

Poloniex introduced in a tweet despatched that the trade needed to halt its exercise resulting from an surprising situation. Apparently, the trade warns customers that it does not intend to renew the buying and selling of the Grin (GRIN)/Bitcoin (BTC) pair, which is outwardly the foundation of the malfunction.

Poloniex resumed exercise earlier than going into upkeep mode once more about an hour later. As soon as it resumed buying and selling for good, its announcement learn:

“All markets besides GRIN/BTC at the moment are re-enabled for full buying and selling. Our preliminary upkeep was associated to our GRIN/BTC upkeep earlier as we speak. Following that, we started experiencing points with one among our service suppliers. We’ll present updates as soon as the whole lot is resolved.”

As of press time, Poloniex didn’t reply Cointelegraph’s press inquiry.

The group exhibits frustration

Some Twitter customers requested Poloniex how they will withdraw their Grin holdings from the platform, apparently displaying concern that the trade’s Grin pockets was compromised. Nonetheless, a cybercriminal emptying the trade’s Grin pockets seems unlikely if one considers that solely the GRIN/BTC buying and selling pair was suspended, whereas GRIN/USDT buying and selling continues as typical.

Moreover, many Twitter customers voiced their frustration over the unscheduled upkeep, with some suggesting that it’s malicious in nature. One Twitter person commented:

“It’s at all times the case, upkeep is at all times on the time when BTC is shifting, misplaced sufficient since [the] market was happening and needed to chop my lengthy. [I’ll] by no means use this website once more for my buying and selling.”

Unscheduled upkeep is just not too unusual amongst cryptocurrency exchanges. That is thanks partly to the house being younger and the infrastructure being nonetheless below growth. As Cointelegraph reported in February, Binance bumped into plenty of efficiency points as nicely. The additionally halted buying and selling for unscheduled upkeep on Feb. 19 and once more originally of March.

On the time, Binance CEO, Changpeng Zhao, refused technical assist from the CEO of competing trade OKEx, Jay Hao, and blocked him on Twitter. Later that very same month, OKEx solely gave its customers a number of hours discover earlier than present process upkeep within the midst of great market volatility.


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