American crypto exchange Poloniex has taken to Twitter to communicate
American crypto exchange Poloniex has taken to Twitter to communicate to its users and the rest of the crypto world that it had been facing some issues and problems with its bitcoin wallet service. As per what they communicated, the users had been facing certain difficulties while trying to make withdrawals and deposits of their bitcoin (BTC) holdings. The developers of the platform have issued a statement reassuring that they would take care of the issue quickly and possibly try to resolve it within five hours from them letting out this tweet. They also promised to provide updates regarding the situation to customers.
We apologize for the delay in updating you on the status of our BTC wallets. We're working to reenable BTC deposits and withdrawals, and we anticipate that they will be back online by 9:00 PM ET. We will keep you updated if that timeline changes.
— Poloniex Exchange (@Poloniex) October 16, 2018
However, after this time was elapsed, they sent out another tweet stating that their developers and experts were still busy trying to resolve the issue with the crypto wallets. The exchange also officially apologized for inconveniencing users.
We apologize for the delay in updating you on the status of our BTC wallets. We're working to reenable BTC deposits and withdrawals, and we anticipate that they will be back online by 9:00 PM ET. We will keep you updated if that timeline changes.
— Poloniex Exchange (@Poloniex) October 16, 2018
A while later, the exchange once again took to Twitter to report that they had successfully managed to take care of the issue with crypto wallets and that the wallets were working fine now.
This year, Poloniex crypto exchange was taken over by a Goldman Sachs-supported tech firm, called Circles. With the support of finance behemoth Goldman Sachs, this acquisition was expected to lead to better results from Poloniex.
BTC deposits and withdrawals are now enabled. Expect deposits to be delayed for a few hours as we work through the backlog. Our apologies for the extended wallet downtime. We are dedicated to improving reliability and minimizing disruption in the future.
— Poloniex Exchange (@Poloniex) October 17, 2018
Earlier this month, it was reported by Circle that Poloniex was beginning a partnership with Decentraland, a virtual reality platform and was launching new tokens on the platform, calling them the Decentraland MANA tokens. All those who acquire these tokens will be able to get hold of virtual plots of land in a virtual reality. Poloniex is also looking to do away with margin trading by the end of this year and for that, it has also kickstarted the delisting of certain tokens such as Expanse (EXP), Syneneo (AMP) and Gnosis (GNO).