Poloniex
Poloniex
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.
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 |
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.
- Geographic restrictions (US, CN, IR, KP, SY, CU).
Verdict
The low score is fully justified: despite a track record since 2014 and over 400 assets, Poloniex carries the scars of a $114M hack in 2023, the contested governance of Justin Sun and withdrawals that stayed problematic after the breach. For a user seeking protection it's a pile of red flags; regulation is effectively absent (the SEC case settled) and Italy isn't covered.
On the sovereign axis too Poloniex is a weak choice: custodial with full KYC, no self-custody. The $114M hack and problematic withdrawals strike exactly the crypto-native nerve — the ability to control and withdraw your own funds — and contested governance adds counterparty risk rather than trustlessness.
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?
Poloniex does not publicly disclose a reference regulator.
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
- Official service page Maker/taker fees · Regulatory framework · Derivatives · Corporate site Data verified on Jun 15, 2026
- cbinsights.com Company type · Stock ticker · Stock listing · IPO date · +1 Data verified on Jun 15, 2026
- certik.com Past incidents Data verified on Jun 15, 2026
- coingecko.com 24h volume · Volume data Data verified on Jun 15, 2026
Show 8 more sources
- cryptonews.com Geographic availability · Proof-of-Reserves · Geo restrictions Data verified on Jun 15, 2026
- cryptowisser.com Deposit methods · Staking & Earn Data verified on Jun 15, 2026
- eng.ambcrypto.com Latest funding round Data verified on Jun 15, 2026
- fca.org.uk Legal name Data verified on Jun 15, 2026
- organismo-am.it OAM Italy registry Data verified on Jun 15, 2026
- coinsclone.com Founders Data verified on Jun 13, 2026
- cryptowinrate.com Trading pairs · Proof-of-Reserves · Certifications Data verified on Jun 13, 2026
- tradingfinder.com Trustpilot reviews · Third-party audit · Bug bounty · Max leverage Data verified on Jun 13, 2026