Poloniex review: score, licensing and risks
53/100SCORE · DMixed record
Grade D, caution
One of the oldest names in crypto, now offshore and unlicensed, with a 2023 breach of around 126 million dollars it covered itself.
The facts
- FOUNDED
- 2014
- HEADQUARTERS
- Seychelles
- CUSTODY
- Custodial.
- MiCA / EEA
- Not authorised across the EEA.
- US ACCESS
- No.
- PROOF OF RESERVES
- No standard proof of reserves publication.
- FEES
- Typical for a venue of its size. Confirm current pricing on its own site.
- ASSETS
- Varies
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Established venue in Seychelles
- Local currency deposit and withdrawal rails
✗ Weaknesses
- Seychelles focused, so limited use elsewhere
- Less independent scrutiny than the global majors
- Smaller asset list and thinner liquidity
Incident history
2023
Around 126 million dollars was drained in a hot wallet compromise. Poloniex said it would cover the loss and resumed operations.
Our read
One of the oldest names in crypto, now offshore and unlicensed, with a 2023 breach of around 126 million dollars it covered itself.
COMPARE
RISK WARNING
Crypto assets are highly volatile and largely unregulated. You can lose everything you put in.
Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation
to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.