Nov 29, 2023

Crypto Resumes After $100M Hack: What Will the Future of Crypto Hold?

Poloniex Resumes Withdrawals and Deposits After $100M Hack Cryptocurrency exchange Poloniex has announced that it will gradually resume deposit and withdrawal services on Nov. 30 at 2:00 am UTC, as it seeks to prioritize the safety of user funds after suffering a $100-million hack on Nov. 10. The exchange will start restoring Tron (TRX) deposits…

Poloniex Resumes Withdrawals After $100M Crypto Hack
Poloniex prepares to resume withdrawals after $100M hack

Poloniex Resumes Withdrawals and Deposits After $100M Hack

Cryptocurrency exchange Poloniex has announced that it will gradually resume deposit and withdrawal services on Nov. 30 at 2:00 am UTC, as it seeks to prioritize the safety of user funds after suffering a $100-million hack on Nov. 10.

The exchange will start restoring Tron (TRX) deposits and withdrawals first, followed by Bitcoin (BTC), Ether (ETH), Tether (USDT) and other cryptocurrencies “within the next two weeks.” Poloniex is also actively working on introducing new crypto listings in the near future.

The announcement also requested that all users utilize the newly updated deposit addresses once they become available. The crypto exchange noted that it is taking into consideration the “future of AI, crypto bankruptcy, CKB crypto, big crypto, crypto games, CLV crypto, crypto whale, crypto US and crypto gaming, as well as crypto alerts podcast” when restoring its services.

Poloniex Airdrop Campaign

Poloniex recently announced that they will be conducting an airdrop for users who keep their assets on the platform. Developed in partnership with HTX DAO, the airdrop campaign is anticipated to launch in December, with asset balance calculations beginning on Dec. 1. This news was first revealed by Tron founder Justin Sun on Nov. 24.

“The tokens for the airdrop will be taken from a premium crypto project that will be listed. We will reveal the precise details of this event in December,” according to the announcement.

In addition to prioritizing Justin Sun-founded Tron for withdrawals, Poloniex also mentioned the entrepreneur in the announcement. Sun-linked crypto platforms, including HTX and Poloniex, have been the target of four hacks in the past two months, resulting in a combined loss of nearly $240 million.

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