Poloniex disables Zcash Wallet: ZEC Deposits and Withdrawals disabled on Poloneix

Poloniex is a popular crypto currency trading website and it has made an announcement on Zcash’s trading webpage that it has temporarily disabled Zcash deposits and withdrawals until they hear from Zcash team. Zcash is about 1.1-1.2x more valuable than much more popular Ethereum but has been losing its edge due to this. This is what the Poloniex has to say about this crypto currency on their website.

poloneix zcash

ZEC is currently under maintenance or experiencing wallet/network issues. Deposits and withdrawals will remain disabled until a solution is found, which may require an update from the ZEC team. Any updates must be tested and audited before enabling.

This tip came from crypto coin daddy and you can check out the trading of Zcash on this Poloniex page. So what will happen if you make deposit to a Poloniex Zcash wallet when it is disabled? Chances are that you will lose your deposit so do not make any deposits while it is disabled. If you mining Zcash, make sure to change your pool settings in order to prevent loss of funds.

Some people on reddit are swearing not to use Poloniex ever again as they have no clue where their money went. Tickets on Poloniex crypto currency exchange may remain unanswered for months which is it is gaining a lot of bad press lately.