BTC $71,807
2026 Bull Run Is Building Start trading with 5% OFF all fees
Sign Up Now
BTC $71,807
Bull Run 2026 | 5% Off Fees Open your Binance account today
Sign Up

Poloniex’s $1.3B BTC Reserve Shortfall Exposed

Poloniex offers fee-free trading amid scrutiny over its Bitcoin reserves and collateral.

  • Poloniex announced fee-free trading for members of its “Poloniex Super” program, but did not specify the cost after a 30-day trial.
  • Owner Justin Sun claimed the exchange can operate without fees due to profits from Bitcoin purchased in 2012.
  • Protos analysis suggests a possible Bitcoin shortfall, as the exchange’s tokenized BTC product appears under-collateralized against its disclosed reserves.

The crypto exchange Poloniex, owned by Justin Sun, announced fee-free trading for users who enroll in its new membership program. However, the exchange has not revealed what the membership will cost after the initial 30-day trial period ends.

- Advertisement -

Sun explained the move by stating, “We already made enough from the bitcoin (BTC) we bought in 2012.” Consequently, this statement highlights scrutiny over how the exchange manages its Bitcoin reserves.

Poloniex offers a tokenized Bitcoin product on the Tron blockchain with a circulating supply worth approximately $1.3 billion. Meanwhile, the exchange’s own proof of reserves claims it holds only 11,090 BTC in total, a figure insufficient to fully collateralize the token.

Furthermore, another Sun-associated exchange, HTX, holds a significant portion of this tokenized BTC in its reserves. Data shows that as of March 1, the token accounted for nearly half of HTX’s total Bitcoin holdings. Protos has repeatedly asked Poloniex to disclose the Bitcoin addresses backing this product but received no information before publication.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

- Advertisement -

Previous Articles:

- Advertisement -
Ad
Altseason Is Loading. Don't watch from the sidelines.
SOL $90.51
DOGE $0.0963
LINK $9.02
SUI $1.00
5% off fees when you sign up
Start Trading
Ad
Pay Less on Every Trade. For Life.
$10K/mo volume Save $60/yr
$50K/mo volume Save $300/yr
$100K/mo volume Save $600/yr
5% off all trading fees when you sign up
Claim Your Discount

Latest News

GitLab fixes critical 10.0 RCE flaw; all versions since 7.0

GitLab released fixes for a critical vulnerability (CVE-2026-110264) that allows unauthenticated remote code execution...

Bitcoin Rebounds 2.5% to $84.5K, Market Cap Up 2.6%

Bitcoin trades near $84,500, up 2.5% in 24 hours, as the crypto market cap...

Grayscale Allows Crypto Swaps, Citing Cybersecurity Threats

Grayscale now allows eligible investors to swap crypto directly for shares of 10 select...

Bitcoin tops $84K on SpaceX earnings beat after Wall Street open

Bitcoin climbed nearly 2% to return to $84,600 for the first time since Oct....

Bronze Sandcastle uses Sandboxie DLL sideloading in Asia attacks

Researchers have identified a China-aligned threat cluster named Bronze Sandcastle targeting organizations in Asia...

Must Read

How to Check The Rarity of An NFT

Whenever you invest in an NFT collection, you might have noticed that some NFTs are more expensive than others. NFT collections are often made...
Ad
Altseason Is Loading. These 4 coins are trending right now.
SOL $92.12
DOGE $0.0950
LINK $9.02
SUI $1.02
5% off spot fees when you sign up
Start Trading