Poloniex exchange names terms of withdrawal after hack

Cryptocurrency exchange Poloniex will restore withdrawals after the hack

At first, users will be able to withdraw funds only in TRX tokens, and within the next two weeks, it will be possible to withdraw in other coins.

The cryptocurrency exchange Poloniex of entrepreneur Justin Sun reported in his account on the social network X (former Twitter) that on November 30 at 5:00 Moscow time will begin to gradually open the possibility of withdrawal of funds from the trading platform.

It follows from the message that the process of restoring withdrawals will take place in several stages: first, users will be able to withdraw funds only in Tron token (TRX), and within the next two weeks there will be an opportunity to withdraw in bitcoin (BTC), Ethereum (ETH), Tether USD (USDT) and other coins.

Amid this news, the TRX token on the Poloniex exchange is trading at a 3-5% premium to the market price, as users who want to withdraw funds as soon as possible have started transferring their assets into this coin.

On November 10, one of the hot crypto wallets associated with the Poloniex exchange was hacked. The attacker managed to steal more than 120 million. At that time, Justin Sun said that the hacker's identity was established and offered him to return the stolen funds for a reward of $10 million. The entrepreneur also claimed that law enforcement agencies from China, the United States, and Russia were involved in the investigation of the crime.

On Wednesday, November 22, the HTX cryptocurrency exchange (formerly Huobi) and the Heco Bridge service, also owned by entrepreneur Justin Sun, were hacked for more than $100 million. The entire stolen amount was instantly sent to decentralized trading platforms and transferred into various tokens.

• Solana network services are experiencing record trading volume. What's going on
• Blur's 'Blast' Blockchain: Pioneering NFT Trading and Derivatives with a $20 Million Boost
• Bittrex Cryptocurrency Exchange Closure: Important Details and Withdrawal Guidelines
• Bloomberg: U.S. demands $4 billion from Binance to drop criminal case
• Bernstein predicted bitcoin capitalization to grow to $3 trillion in 2025
• Half a billion for mining. Why Tether entered the bitcoin mining market
• Blur's 'Blast' Blockchain: Pioneering NFT Trading and Derivatives with a $20 Million Boost