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Balances Malfunction At Poloniex Cryptocurrency Exchange

By

Matthew

De Silva

WriterETHNews.com

On Wednesday, Poloniex announced that it was examining a problem with customer balances. The issue prevented funds from being credited back to users when orders were canceled.

On January 17, 2018, US-based cryptocurrency exchange Poloniex disclosed that some of its customer balances have been inaccurately recorded. The exchange temporarily ceased forced liquidations and announced that the balances will be corrected.

Earlier in the day, Poloniex revealed that it was investigating whether trades were being processed correctly. Some users' funds were reportedly not returned after they canceled outstanding orders. It seems likely that this malfunction is to blame for the incorrect account balances.

Many users confirmed on Twitter that they were affected, but the exact cause of the problem is not immediately clear. Was this a programming error, a minor glitch, or a hack? At the time of publication, Poloniex representatives could not be reached for comment.

Matthew De Silva

Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles. Matthew is a full-time staff writer for ETHNews.

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