Share this article
Poloniex Crypto Exchange Forced to Roll Back Trades After Update Error
The cryptocurrency exchange – recently acquired by an investment group including Tron – now says its systems are back to normal.
Updated Sep 13, 2021, 12:17 p.m. Published Feb 12, 2020, 10:12 a.m.
Cryptocurrency exchange Poloniex, which was recently acquired by an investment group including Tron founder Justin Sun, has been forced to roll back trading activity after it introduced an error in its system.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The firm said in a tweet on Tuesday it had rolled out a change that accidentally included a bug that "briefly caused trades to be executed erroneously."
Poloniex said its automated audits spotted the error and put the site into maintenance mode. "We have identified the bug and deployed a fix," according to the message.
In other tweets the firm explained that due to possible accounting errors arising from the bug it had to undo 12 minutes of platform activity, affecting trades between 17:53 UTC and 18:05 UTC on Monday.
The platform also cancelled all pending withdrawals for a time, though the latest tweet in the thread indicates these have been reinstated, as is normal trading.
Poloniex was acquired from crypto finance firm Circle in October. Sun admitted weeks later that Tron was one of the investors, but added at an event that the exchange would maintain its independence.
While still with Circle, the exchange moved its base from Delaware to Bermuda and, following the acquisition, dropped U.S. residents as customers. Soon after, it started allowing users to withdraw as much as $10,000 a day without completing know-your-customer (KYC) identity checks.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin could drop to $10,000, one analyst says, spelling doom for ETH, ADA, XRP
Traders are positioning for downside risks, with a significant build-up of put options indicating expectations of a dip below $85,000.
What to know:
- Bitcoin remains under pressure, hovering near $87,000, with analysts warning of potential further declines into early 2026.
- Traders are positioning for downside risks, with a significant build-up of put options indicating expectations of a dip below $85,000.
- Despite recent resilience, long-term holders have reduced their bitcoin holdings, and geopolitical risks and leverage conditions are expected to drive market volatility into 2026.
Top Stories
