So today I made a Post where I explained a bit how I got a Mail from an Exchange to Update my KYC and AML Verifications. It was actually from Kucoin Exchange and once I read the Email I went to the website and checked things out. It was all ok I just needed to submit some Documents, there was no Ban or anything.
Out of Curiosity I went ahead and checked Poloniex too and to my Surprise, I got this Message displayed at the Bottom.
They didn't even Mail me or give some Grace Period so that we could move our Funds. They just downright Froze our Wallets. Now I believe this is just Blasphemy.
I also believe that there is an Ulterior Motive behind this. Let me give you an Example. I have 30 USD worth of CIVIC Tokens on Poloniex which I am unable to withdraw due to my Wallets getting Frozen. Now I am going to get my CIVIC Tokens back as each penny matters to me but there are many People who would simply leave that 30 Bucks and not provide their KYC Details. Multiply that 30 Bucks with Poloniex's Customer Base and they are looking at one hell of a Payday.
I am not pissed because they are doing their KYC and AML Process but they should have Limited Daily Transactions like other Exchanges instead of downright Freezing our Accounts.
