Poloniex is a popular cryptocurrency exchange, but it has lacked an official mobile presence in the form of an APP. Recently, a fake Poloniex has been found out to circulate around the Google Play store, and chances are, it carries a dubious and malicious intent.
Poloniex Exchange is based in the USA and started back in 2014. It has built itself as a pure crypto-to-crypto market and is currently one of the busiest platforms which offer 140 Bitcoins and Monero markets.
Now the Poloniex U.I is publicized to be super easy to get by and is extremely user-friendly. All traders get access to several tools like technical analysis charts that simplifies the current market. Also, a live chat option is also there to help users their problems.
And to back it all up, there is an active auditing program that checks all transactions taking place on the platform. All transactions get stored in offline mode via air-gap cold storage and authentication is provided on top of that for additional security to all accounts.
As you can see, Poloniex is a powerful, secure, and user-friendly trading platform that runs 24*7, checking all qualities necessary to be one of the top players on the market. Nonetheless, even being one of the top cryptocurrency exchanges doesn’t exempt one from the hate of customers. More and more exchanges are being affected by the ongoing struggle with partnering banks. This is causing problems for the customers. And with Poloniex the issue is magnified with the presence of this new fake app on the Play Store.
However, Poloniex is not oblivious to the situation. They have taken to Twitter to reach out to its user base:
“We’ve been made aware of false reports coming from the creator of an impostor Poloniex app that the Poloniex platform has been compromised”[…]“This phishing scheme was aimed at various exchanges and the impostor has now chosen to publicly post sensitive user information of the victims – a highly unethical act.”