Cryptocurrency Exchange Poloniex to Resume Withdrawals and Deposits After $100 Million Hack

Cryptocurrency exchange Poloniex has announced that it will be gradually resuming deposit and withdrawal services after suffering a $100-million hack on November 10. The exchange plans to prioritize the safety of user funds by implementing a phased resumption of services.

Poloniex took to X (formerly Twitter) on November 29 to make the announcement. Deposits and withdrawals will be gradually restored starting from November 30 at 2:00 am UTC. The first cryptocurrency to have deposits and withdrawals restored will be Tron (TRX), followed by Bitcoin (BTC), Ether (ETH), Tether (USDT), and other cryptocurrencies within the next two weeks.

Alongside the resumption of withdrawals, Poloniex also revealed that it is actively working on introducing new listings, which will be available in the near future. The exchange added that users should make sure to use the newly updated deposit addresses to avoid any issues with their funds not being credited.

Poloniex also announced an airdrop campaign for users who keep their assets on the platform. Developed in partnership with HTX DAO, the airdrop campaign is expected to launch in December, with asset balance calculation starting on December 1. The tokens for the airdrop will be drawn from a premium project that is about to be listed, with specific details to be unveiled in December.

It is worth noting that Poloniex tagged Tron founder Justin Sun in the announcement. Sun-linked crypto platforms, including HTX and Poloniex, have experienced four hacks in the past two months, resulting in a combined loss of nearly $240 million.

As Poloniex prepares to resume withdrawals and deposits, it is important for cryptocurrency users to remain vigilant and take necessary steps to protect their assets in a volatile market.