Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
D D Regional Crypto Exchanges

Poloniex

Poloniex

Polo Digital Assets, Ltd.

Status
Private company
Legal HQ
Seychelles
Founded
2013
Corporate site
poloniex.com

Main investors / shareholders

  • Justin Sun · Other
    n/d
  • Ben Jen Holdings · Other
    n/d
  • Circle (precedente proprietario 2018-2019) · Other
    n/d

Poloniex (Polo Digital Assets, Ltd.) is a custodial centralized crypto exchange founded in 2013-2014 by Tristan D'Agosta. Acquired by Circle in 2018, then spun off and acquired in October 2019 by a group led by Justin Sun (Tron founder) and undisclosed investors. Effectively controlled by Justin Sun. Suffered a major hack in November 2023 (~$120-132M drained from hot wallets via private key compromise); users were reimbursed. Not publicly listed. Justin Sun admitted difficulty meeting Proof of Reserves requirements.
2.0/5 1.2/5 · Data verified on

A long-standing exchange operating since 2014, listing over 400 assets. The service is marked, however, by a $114M hack in 2023, the contested governance of Justin Sun and withdrawals that remained problematic after the breach.

17
Transparency: Very low
17/100 · see methodology
17
Data exposure: Minimal
17/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee 0.1% / 0.1%
Markets Spot
Max leverage 100×
Supported assets 587+
Trading pairs 770+
24h volume $674.27M
Fiat on-ramp Yes
Deposit methods crypto, carta credito/debito (via Simplex), USDC (Circle, ABA wire)
Geo restrictions US, CN, IR, KP, SY, CU
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries APAC · 30+ countries
Regulator SEC (settled)
OAM Italy registration No
Segment B2C
MiCA / License status none effective N/D

Strengths

  • track record exchange (2014); 400+ asset.
  • No notable sovereignty advantage documented.

Weaknesses

  • ⚠️ Hack $114M 2023; Justin Sun governance; withdrawals problematic.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Subject to regulation (N/D): reporting to authorities and freezes on order.
  • Geographic restrictions (US, CN, IR, KP, SY, CU).

Verdict

D D ★ 2.0/5 ★ 1.2/5

A long-standing exchange operating since 2014, listing over 400 assets. The service is marked, however, by a $114M hack in 2023, the contested governance of Justin Sun and withdrawals that remained problematic after the breach.

Privacy & anonymity 30% 0.8
Fund control 20% 0.0
Censorship resistance 20% 1.5
Costs 10% 4.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are Poloniex's fees?

Poloniex's spot fees vary by tier; check the official fee schedule.

Is Poloniex regulated in Europe?

Regulatory status of Poloniex: N/D.

Does Poloniex publish Proof of Reserves?

Proof of Reserves publication is not documented for Poloniex. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from Poloniex?

No, Poloniex is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does Poloniex support derivatives and futures?

Poloniex does not offer derivatives: it focuses on spot trading.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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