The Poloniex crypto exchange is once again in the spotlight after the firm confirmed that the password and email data of their clients had indeed been leaked on Twitter. The exchange has since sent out an email to all its users warning of potential account hacking threats following this incident.
Given the sensitivity of the leaked data, Poloniex has opted to force all current traders to reset their passwords. According to an email sent out on Dec 30, the U.S based digital currency exchange saw this as the best course of action to protect its users;
“While almost all of the [leaked] email addresses listed do not belong to Poloniex accounts, we are forcing a password reset on any email addresses that do have an account with us, including yours.”
As it stands, the damage caused by this leak has yet to be quantified in terms of any compromised accounts. It seems Poloniex might just be cautious and trying to avoid any real hacks. In addition, Poloniex is still uncertain as to how the passwords and email addresses were posted on Twitter.
This is a real email! Please reset your password for account security
— Poloniex Customer Support (@PoloSupport) December 30, 2019
The Poloniex customer support team has consequently found itself in a difficult situation as some users of the exchange did not take the warning email seriously. In fact, one user took to Twitter claiming that the email was a scam claiming there wasn't a need for any actions. This comment was quickly addressed by the Poloniex team who emphasized that the email sent out is real and urged the client to reset their password.
Poloniex and Tron 2019 Highlight
This recent threat to the Poloniex exchange is a big deal and could affect the platform’s volume. The firm has made considerable milestones over the course of 2019. Circle let go of the platform and informed US customers to remove funds by Dec 15th. Tron's founder, Justin Sun became an “investor” and then the exchange has taken a heavy affiliation with TRX products.
Poloniex moved to acquire the TRXMarket as part of an expansion strategy of its line of products. The exchange went on to further add a super representative from the TRON team. Analysts within the industry speculate that their spin-off from Circle and integration with TRX is a step in the right direction for capital growth.