Crypto Exchange Poloniex Announces Delisting for Eight Coins Under New Rules

Crypto Exchange Poloniex Announces Delisting for Eight Coins Under New Rules 1

Crypto exchange Poloniex announced on September 18, 2018, that it had started the process of delisting eight assets from its trading platform. The affected tokens are BTCD (Bitcoin Dark), BTM (Bitmark), EMC2 (Einsteinium), GRC (GridCoin), NEOS (NeosCoin), POT (PotCoin), VRC (VeriCoin), and XBC (Bitcoin Plus). The delisting becomes effective at 12:00 ET on September 25, 2018.

According to a statement published on the Poloniex website, users have a grace period extending up to 12:00 ET on October 25 to close out trades and withdraw balances in the affected digital assets.

In line with Poloniex delisting processes, the announcement states that the platform would ensure that users suffer as little pain or loss as possible, when coins are delisted from trading markets due to a variety of possible reasons.

The process involves a mandatory 7-day advance notice period ahead of the delisting of a market, followed by a 30-day grace period following the delisting, to enable customers to withdraw funds and close out ongoing trades in the delisted assets. The platform also pledges to make us of as many platforms as possible to break the news of the delisting, to ensure that customers are informed and aware of their positions.

The statement also specifies that during an incidence of wallet unavailability, the grace period may be extended, and the platform may contact affected asset holders by email. If a blockchain network becomes inactive, the customer’s funds will be held in cold storage pending the time the network comes back online. Regardless of what the problem is, customer are assured their cases will be handled on a case-by-case basis.

According to Poloniex, once the grace period expires at 12:00 ET on October 25, all withdrawals in the affected assets will be immediately disabled, and the asset will be fully decommissioned from the Poloniex platform, after which it will become impossible for the platform to process any further withdrawals in the delisted coins.
To this end, users with the affected tokens in their exchange wallets on Poloniex are encouraged to withdraw their funds before the withdrawal deadline.

It will be recalled that earlier in the year, Bitcoin Dark experienced a sudden price jump of more than 277 percent in what was a suspected pump-and-dump scheme for the cryptocurrency that has been in existence since 2014. As Poloniex was responsible for an estimated 97 percent of the token’s total trading volume, suspicion arose that the platform was effectively being used to manipulate crypto markets.

The delisting of Bitcoin Dark draws a firm line under the saga and indicates that Poloniex has a decidedly dim view of such activities.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 62,368.00
ethereum
Ethereum (ETH) $ 3,882.52
binance-coin
Binance Coin (BNB) $ 472.58
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.15
xrp
XRP (XRP) $ 1.10
solana
Solana (SOL) $ 160.92
polkadot
Polkadot (DOT) $ 42.64
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23917
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 62,368.00
ethereumEthereum (ETH)
$ 3,882.52
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 615.61
litecoinLitecoin (LTC)
$ 185.72
bitcoinBitcoin (BTC)
53.769,64
ethereumEthereum (ETH)
3.347,26
tetherTether (USDT)
0,862135
bitcoin-cashBitcoin Cash (BCH)
530,74
litecoinLitecoin (LTC)
160,12
bitcoinBitcoin (BTC)
45,375.03
ethereumEthereum (ETH)
2,824.68
tetherTether (USDT)
0.727537
bitcoin-cashBitcoin Cash (BCH)
447.88
litecoinLitecoin (LTC)
135.12

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

ICo Presale
The Science Behind ICO Presales…
October 14, 2021
Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin62,312 0.31 % 1.66 % 13.89 %
Ethereum3,884.9 0.10 % 0.63 % 13.23 %
Binance Coin472.96 0.57 % 1.44 % 16.97 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.150 0.44 % 1.25 % 1.88 %
XRP1.100 0.29 % 3.05 % 3.00 %
Solana161.95 0.02 % 1.67 % 9.65 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2403 0.19 % 0.99 % 4.81 %

bitcoin
Bitcoin (BTC) $ 62,368.00
ethereum
Ethereum (ETH) $ 3,882.52
binance-coin
Binance Coin (BNB) $ 472.58
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.15
xrp
XRP (XRP) $ 1.10
solana
Solana (SOL) $ 160.92
polkadot
Polkadot (DOT) $ 42.64
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23917