There have been a few fake posts in the world of Bitcoin and cryptocurrency recently. Things need to be taken with many grains of salt, especially when it comes to news originating from 4Chan. One recent post on the site claimed that the Poloniex exchange was on the brink of insolvency. There is no real evidence to back up such a claim, but it is still worth looking into regardless.
The Poloniex Insolvency Hoax Is Fake, We Hope
Many people have a gut feeling the Poloniex altcoin exchange will run into serious problems sooner or later. The company has been dealing with a fair amount of issues lately, including outages, withdrawal delays, and missing deposits. It will be interesting to see how all of this affects the exchange in the coming months. For now, there is no reason to panic just yet.
According to one 4Chan user, though, this situation will change very soon. Before proceeding, let’s note that this is an unconfirmed report with no evidence to back it up. Making bold claims is 4Chan’s second nature, and most of the things posted there are either hoaxes or just plain lies. That being said, there are some reports which later do turn out to be partially true, which makes these comments worth paying at least some attention to.
This particular user commented on a post regarding when Antshares — or NEO, as it is known these days — will be supported by the exchange. While that discussion did not yield significant conclusions, the user in question made some bold claims. He or she claimed to be an ex-Poloniex moderator with some insider knowledge which needed to be shared with the rest of the world. It is certainly possible some of the company’s former moderators lurk on 4Chan these days.
The user claimed Poloniex is currently on the brink of insolvency. It is not the first time we have heared such claims, and there has never been any credible evidence to justify these statements. It is true Poloniex has plenty of issues to deal with right now, including a string of suspiciously timed DDoS attacks, withdrawal and deposit issues, and failing to recognize Bitcoin Cash as an official currency. The latter part has plenty of Bitcoin lenders annoyed.
However, the real issue here revolves around the suspicion of Poloniex being involved in the BTC-E/Mt. Gox money laundering scheme. It would not be surprising if additional exchanges were involved in this process, but it seems unlikely Poloniex would have anything to do with it. The 4Chan user referenced here claimed that the company would not pay any fine issued by the SEC for listing and trading ICO tokens. There has been no official fine — that we are aware of, anyway — making that particular claim even stranger than the rest.
Last but not least, the 4Chan user claimed the Poloniex owners are “making a bank run.” Once again, these are all baseless rumors which do not justify further prognostications as to what may happen to Poloniex in the future. For the time being, the company is operating as usual, even though there are users who express reservations with how the business is run. Only time will tell if there is any truth to these claims, but for now, this seems to be a hoax.