{"id":14077,"date":"2023-11-15T11:25:46","date_gmt":"2023-11-15T11:25:46","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=14077"},"modified":"2023-11-15T11:25:47","modified_gmt":"2023-11-15T11:25:47","slug":"poloniex-crypto-exchange-resumes-withdrawals-after-100m-hack","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14077","title":{"rendered":"Poloniex crypto exchange resumes withdrawals after $100M hack"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Justin Sun\u2019s cryptocurrency exchange Poloniex is preparing to resume operations after suffering a major hack in mid-November, according to an official company announcement\u00a0posted\u00a0on Nov. 15<\/p>\n<p>In the statement, the company said that the platform has \u201cmostly completed\u201d the restoration efforts after the $100 million hack.<\/p>\n<p>\u201cThe platform is now operating smoothly,\u201d Poloniex said in its most recent update on the resumption of deposit and withdrawal services. The exchange has enlisted a \u201ctop-tier security auditing firm\u201d to enhance the security of funds on Poloniex and is preparing to resume withdrawals soon, the firm said, adding:<\/p>\n<p>\u201cCurrently, they are in the final stages of the security audit and verification processes for Poloniex. Upon completion of the audit, we will promptly resume deposit and withdrawal services on our platform.\u201d<\/p>\n<p>The firm added that the \u201cevaluation process\u201d is still ongoing and is estimated to take several more days.<\/p>\n<p>Poloniex did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n<p>Poloniex suffered a major security breach on Nov. 10, with attackers stealing at least $100 million in cryptocurrency from the exchange. The Poloniex team subsequently disabled the wallet after discovering the suspicious outflows. According to the blockchain security firm CertiK, the incident was likely a \u201cprivate key compromise.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto exchange CoinSpot reportedly suffers $2M hot wallet hack<\/em><\/strong><\/p>\n<p>Poloniex owner Sun \u2014 who acquired the exchange in 2019 \u2014 took to X (formerly Twitter) soon after Poloniex disabled the wallet, reporting that the team was already investigating the hacking incident. Sun promised to fully reimburse the users affected by the breach, claiming that Poloniex \u201cmaintains a healthy financial position\u201d and is looking for collaborations with other exchanges to recover the lost funds.<\/p>\n<p>Earlier this year, Poloniex agreed to pay a $7.6 million settlement requested by the United States Treasury Department\u2019s Office of Foreign Asset Control, related to more than 65,000 apparent violations of multiple sanctions programs.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/poloniex-resumes-withdrawals-hack\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Justin Sun\u2019s cryptocurrency exchange Poloniex is preparing to resume operations after suffering a major hack in mid-November, according to an official company announcement\u00a0posted\u00a0on Nov. 15 In the statement, the company said that the platform has \u201cmostly completed\u201d the restoration efforts after the $100 million hack. \u201cThe platform is now operating smoothly,\u201d Poloniex said in its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-14077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14077"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14077\/revisions"}],"predecessor-version":[{"id":14079,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14077\/revisions\/14079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14078"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}