Domain Due Diligence
Report for Poloniex.com
Why we think so?
Poloniex.com is a cryptocurrency exchange established in 2014 with substantial monthly traffic and a broad cryptocurrency offering. It uses reputable hosting and security infrastructure, including Amazon and Cloudflare services, and maintains active official contact emails and verified social media profiles. However, it has a history of major security breaches, including a $132 million hack in 2023, frequent user complaints about frozen funds, withdrawal issues, and poor customer support. Regulatory bodies like the UK's FCA have issued warnings about its operations, and the exchange has faced large settlements with US authorities over unregistered trading activities and sanctions violations. These factors combine to create significant risk concerns for users.
Risk Insights
Security Breaches Highlight Risk
- Major $132M hack in 2023 compromised hot wallets.
- Previous attacks caused losses spread across users.
- Frequent DDoS attacks linked to operational problems.
Regulatory and Legal Issues
- Settled $10M with SEC over unregistered exchange claims.
- Paid $7.5M penalty for sanctions violations affecting many users.
- UK FCA warns public against dealing with Poloniex.
Widespread User Complaints
- Low ratings on multiple review platforms.
- Reports of funds frozen or not returned.
- Poor customer service with delayed responses.
Contradictory Signals
Strong technical infrastructure contrasts with ongoing security failures and compliance issues.
Signal A: Use of reputable cloud and security providers
Signal B: Repetitive security incidents and legal troubles
Category Scores
Red Flags & Warnings
- Multiple large-scale security breaches with massive user fund losses.
- Negative reviews frequently describe frozen accounts and unreturned funds.
- Regulatory warnings highlight lack of authorization and legal compliance issues.
- Large fines and settlements indicate serious past violations and enforcement actions.
- Extremely low user ratings on review platforms signal widespread dissatisfaction.
🔎 Detailed Checks & Analysis
Domain and Technical Infrastructure
Score: 60/100
Domain and Technical Infrastructure
"Strong technical setup but does not offset significant legal and reputational issues."
Reason: Poloniex.com uses reputable technology providers like Amazon AWS, Cloudflare, and G Suite, showing sound infrastructure.
Reputation and User Feedback
Score: 10/100
Reputation and User Feedback
"Widespread negative user experiences create a serious trust concern."
Reason: Received numerous user complaints about lost funds, frozen accounts, and poor customer support, plus low review ratings.
Legal and Regulatory Compliance
Score: 10/100
Legal and Regulatory Compliance
"Not authorized by top-tier regulators, which poses a high legal risk."
Reason: Poloniex has multiple regulatory warnings and hefty settlements for operating without proper registration and sanction violations.
Content and Contact Validity
Score: 25/100
Content and Contact Validity
"Legitimate business communication channels help verify identity."
Reason: The site has active contact emails, verified social media accounts, and clearly states business details.
Your Next Steps
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1
Avoid using poloniex.com for trading or investing to prevent potential losses.
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2
Report any suspicious activity or unresolved fund issues related to poloniex.com to relevant financial authorities.
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3
Check official regulatory warnings before engaging with cryptocurrency exchanges.
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4
If you hold assets on poloniex.com, consider withdrawing them cautiously while monitoring for updates.
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5
Consult trusted sources and verified reviews rather than third-party recovery services to avoid further scams.
Evidence & Citations
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Reports of Users Losing Money on Poloniex.com
Detailed summary of security incidents and user loss reports.
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Regulatory Warnings Against Poloniex
UK FCA warning about unauthorized activities.
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SEC Settlement with Poloniex for Operating Unregistered Exchange
Details regulatory penalties and settlements.
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User Reviews with Fraud Allegations and Complaints
Aggregated user feedback with consistent red flags.
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