Poloniex exchange went offline

Poloniex exchange connection troubles: should we be worried?
03 August 2017   2313

Distributed database that is used to maintain a continuously growing list of records, called blocks

Poloniex, one of the biggest and most influential cryptocurrency exchanges, has been surrounded by rumors concerning its insolvency lately. The exchange users report more and more problems and show their disappointment in technical support.

The rumor first started with 4chan post where a user claimed that Poloniex is on its way to insolvency giving the many issues that it is encountering. The post garnered enough attention from multiple users recalling their most recent disappointing experiences on the exchange platform. On Reddit, one user also floated the issue of Poloniex insolvency after his account containing $70,000 was hacked. He detailed that he immediately created a ticket, thus far Poloniex hasn't responded to his issue:

I have a support ticket with Poloniex and have been updating it every day, to no avail. They never respond. Because this is quite a large amount of money, it makes absolutely no sense that they would not reply to my requests, except to say that that a reasonable person would consider them insolvent.

Alexander Levin
Poloniex exchange platform user

On Wednesday evening, August 2nd, Poloniex went offline

Poloniex exchange website went offline Poloniex exchange website went offline

At first, Poloniex team reported on its Twitter on their awareness of the problem:

One hour later, the team detailed that the trading is currently suspended:

At the time of writing the Poloniex exchanges shows signs of life, though the connection speed remains poor.

The uncertainty in the exchange stability resulted in mass withdrawal operations. The users report that there's at least almost no problem with the withdrawal:

The website showed an error a couple of times, but I finally managed to сonduct a withdrawal operation at about 10 a.m. and I received my money at 12 a.m., so, speaking IMHO, there's not so much to worry about.

Mike Morgunov
Cryptocurrency enthusiast

However, now, with all August-1st-mess, the situation in the cryptocurrency world heats up and the community's panic becomes serious.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   88

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.