Poloniex Crypto Exchange Reinstates Withdrawals Following $100M Hack
Poloniex announces substantial progress in its restoration endeavours after falling victim to a significant security breach on 10 November.
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Poloniex announces substantial progress in its restoration endeavours after falling victim to a significant security breach on 10 November.
The Japanese branch of the failed crypto exchange will start processing withdrawals as of February 21.
The company will pay employees and vendors, but not former CEO Sam Bankman-Fried or Caroline Ellison.
Bankrupt Crypto Lender Voyager also acknowledged Friday that it has a $3 million balance currently locked up on FTX.
Crypto exchange FTX has begun processing withdrawals, according to reports from users and the crypto community.
Customer withdrawals that were previously processing but backlogged have been halted altogether, according to an announcement in the FTX Support Telegram group.
The crypto exchange said it had $48 million in exposure with Babel Finance and $5 million with Celsius — both firms faced liquidity and insolvency issues, respectively.
Since halting user withdrawals three weeks ago, CoinFLEX has announced plans to reclaim up to $84 million in owed funds.