So I was withdrawing BTC from Poloniex and I got the confirmation email and I approved the withdrawal. Then my transaction was “Awaiting Approval”. I waited for a bit and I was made to complete Level 1 verification which is my name. No big deal. But now they want me to give them where I live and a phone number. I have no idea why, since my transaction is not over the Level 1 limit ($2,000). My account is essentially frozen since I can’t even get to the exchange or anything. I am stuck on the “My Profile” page essentially forcing me to give up my personal info.
Does anyone know what I can do? I submitted a support ticket but it is taking a long time.
Do you have an account with their helpdesk? And have they bugged you about two factor authentication? Even though they’re the paid ‘professionals’ and it’s them messing with your money, I’d recommend against using any colourful or even emotional language in support ticket(s) you send them otherwise they’ll sulk and possibly relegate your ticket to the bottom of the pile for a week or more as punishment.
They are located in the U.S. so they have to comply with “FinCEN” (financial crimes and enforcement) regulations that are fuzzy and changing. By fuzzy I mean this: my bank sort of let $200,000 go to a country that was sort of on a “we do not like them” list (not the blocked list, but a different list). My bank did not break any rules, but FINCEN thought they should have been more aggressive in blocking the transfer, so they fined my bank $800,000. True story. They did not break any rule except for one that says “you must make judgment calls that are as least as strict as we think they should be, but we can’t really describe to you how strict we are going to be. if you get fined, then you know you should have been more strict”. I know this because I wanted to know why they could not send my money to coinbase. I looked it up to confirm the story.
My point is to not assume Poloniex is engaging in bad or ignorant behavior. They have awful non-codified regulations they have deal with, that can shut them down even if they have not broken written regulation. Just allowing privacy-oriented coins like Zcash on their exchange is a risk.
I’d start making the assumption that whatever Poloniex is currently doing, it’s likely an exit scam like you mention. They’ve been holding a pending withdrawal of mine hostage for nearly 1.5 weeks. See the link below. This hasn’t been approved despite the Poloniex customer policy of manually approving within 24 hours.
Here’s a link that demonstrates my transaction detail:
Here’s the link that demonstrates that Poloniex is a complete lie:
Unfortunately, there’s no support and when the team does finally reach you, they don’t discuss the topic at hand, rather, they direct you to the resources section on support that doesn’t help at all…