Poloniex issued a statement about the loss of 1,800 Bitcoins due to a serious fall in prices in the market, which led to the default of a number of margin loans.
"Today, we recognized the generalized loss across lenders in the BTC margin lending pool. As a result, the principal of all active BTC loans as of 14:00 UTC today has been reduced by 16.202%. This impacted 0.4% of Polo users" – Poloniex Twitter.
Interesting in the section: Poloniex – description of the exchange platform
The report explains that the market was defaulted on a number of marginal loans after a price collapse, the total loss in the Poloniex BTC marginal lending pool was 1800 BTC.
Poloniex has taken steps to reduce the principle of all active BTC loans by 16.202% after the loss.
According to Poloniex, this affects only 0.4% of Poloniex users. Lenders suffer a decrease in their accounts at the entrance to the system. Borrowers with a default will have their accounts frozen until they repay their loans and fulfill the Poloniex terms of service.
Following this event, Poloniex took steps to exclude additional 4 assets from margin tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details, including CLAM, BTS, FCT and MAID.
Poloniex Crypto Exchange has published a statement about the loss of 1800 BTC due to a serious fall in prices on the market. The exchange also stated that it would consider additional measures to avoid similar situations in the future.
Editor: Yuliya Soroka