Poloniex Goes From Bad To Worse To Disastrous!

UPDATE: Poloniex finally completed the Withdrawal without explanation - Total time: 12 days

Poloniex have had their fair share of problems over the few months, with alleged DDoS attacks being blamed for the majority of their problems and the exponential growth in users in such a short period of time it's understandable that some problems may occur with the platform.

However, as what is not understandable and not acceptable is the TOTAL lack of support .

So my first issue

Withdrawal of 0.65BTC into my bitcoin core wallet.

This resulted in an 'awaiting approval' status. Normally as you'll be aware if you use the platform this process normally lasts a few minutes, up to an hour max and then boom, coin out.

5 hours later still 'awaiting approval'

A ticket was opened at this point and I put my feet up and forgot about it for a little while. 24 hours later. No response, no change in status for the withdrawal, or the support ticket.

Another 24 hours later, no change.

Finally I decided to just try another withdrawal to the same BTC receiving address - This went through OK. However still no response from Poloneix via the support ticket and no change to the previous withdrawal status.

At this current time of writing its been almost 6 days and still no change to the withdrawal status or the support ticket.

The Icing on the cake

Today saw my second issue arise. Now don't mock me, but I placed an order for some XRP at a price of 0.00006027 which amounted to around 1.05BTC being held up in the order.

After coming to my senses and deciding I wanted to purchase some LBC or LTC instead I went to cancel the order.

Order fails to cancel. At this point its only been a mere 2 hours since the issue occurred, however the order will not cancel from the trade page or the orders page.

Another support ticket opened.

So that's a total of 1.7 BTC now tied up in Poloniex Limbo.

As I said I totally understand the strain these exchanges are under due to the sudden increase in demand, but the trading fee's they receive per day is more than adequate enough to employ enough support staff to sort these issues out quickly.

More than one hour response time for support tickets in any trading platform is unacceptable, but 6 days! - That's insanity.

So far in my experience the best platform for trading cryptocurrency is Bitstamp, but of course their portfolio of trading coins is very small. But if you want a safe haven for your BTC, LTC, XRP and soon ETH than I cannot fault Bitstamp in the 4 years i've been using them.

In the meantime, be careful with Poloniex, I don't believe like many they are going to run off with everyone's money Cryptsy style, but be aware that if you have an issue it will likely not be resolved quickly.

I'll update you (hopefully) once the problem has been resolved.

BTC: 1598fWD3zywV7apLka5k1Gc8rSJRPtTxt8