Poloniex requires verification of legacy accounts

The exchange advises to verify legacy account to avoid any potential interruptions in ability to trade on the platform
28 December 2017   1867

Yesterday the Poloniex cryptocurrency exchange announced that the exchange will soon require legacy accounts to become verified through the latest version of its verification portal.

The exact date for this deadline will be announced in Q1 2018, but the exchange advises to verify legacy account now to avoid any potential interruptions in ability to trade on the platform.

On the date of the deadline, legacy accounts will be placed in a state where:

  • Trading and lending will be disabled;
  • Open orders will be closed;
  • Loans will have auto-renew switched off;
  • Margin positions will be given an 8 week wind-down period where they can only be diminished or closed. After the 8 week wind-down period, they will be closed;
  • Deposit addresses will be revoked. Any deposits sent to a revoked address will not be recoverable until the account is fully verified;
  • Withdrawals will remain enabled at the daily withdrawal limits prior to the deadline.

It is stated that right after legacy accounts will be verified full functionality will be restored and daily withdrawal limit will be increased to $25K USD equivalent.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   114

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.