Poloniex was acquired by a group of Asian investors

The Poloniex Exchange announced on Twitter that he encountered a software problem that generated “a series of transactions executed incorrectly”. As a result, the platform has completed a rollback of 12 minutes of transactions.

The announcement did not detail the specific nature of these errors, but the result was that the trading was suspended for about three hours.

Following the completion of the audit, Poloniex decided to cancel all transactions between 17:53 UTC and 18:05 UTC on Monday, February 10.

Also, the company canceled any pending withdrawals and the affected customers were informed about this by email.

So far, Poloniex has not officially confirmed how many users were affected or what trading volume was canceled by this decision.

Currently, the platform is not functional and is still in maintenance mode.

Maintenance has been completed and all markets are now open in post-only mode to allow traders to adjust orders to reflect current prices. We will re-enable full trading soon. Thank you for your patience.

– Poloniex Customer Support (@PoloSupport) February 10, 2020

Poloniex was acquired by a group of Asian investors

Poloniex is one of the largest cryptocurrency trading platforms that was launched in January 2014 and is based in San Francisco.

Unfortunately, its history was not without its incidents – a hack in 2014 resulted in theft of over 12% of Bitcoin owned by the platform. Since then, Poloniex has slowly rebuilt its reputation on the security side, and most of its customer deposits are offline.

Circle acquired the exchange in February 2018 for nearly $ 400 million. However, after several months in October 2018, Poloniex was acquired by a group of investors from Asia. Among them were Justin Sun, the founder of TRON. Subsequently, the platform decided to restrict access for US customers.