Users have begun withdrawing their funds from the crypto trading platform Poloniex after it spun off of Circle Inc ., and after the latter warned U.S. users' balances on the platform would be subject to fees.
According to data compiled by CoinMetrics, Poloniex clients quickly began withdrawing their bitcoin and ether from the platform following Circle’s acquisition last year. The supply of BTC and ETH plummeted further after the exchange became an independent company, leading to Poloniex’s lowest level of crypto holding since early 2016.
Users have been frustrated with the exchange over a series of coin delistings, including the removal of DigiByte earlier in the month shortly after its founder criticized it and TRON's Justin Sun, who admitted to having invested in it. One Twitter poll with over 955 votes found that 84% of respondents were considering closing their Poloniex account following the delisting.
In addition, Poloniex has yet to repay users following the CLAM coin incident , during which the exchange made up for the loss of 1800 BTC by taking a percentage of client funds.
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