Poloniex Claims All Customers Repaid Following March Bitcoin Hack

Jul 2, 2014 at 14:29 UTCUpdated Aug 20, 2014 at 15:12 UTC. US digital currency exchange Poloniex has released a new update on the customer repayment plan it implemented following the loss of 12.3% of its total bitcoins in a March attack.

In a new press release, Poloniex claims 100% of the customers who experienced a financial loss have been reimbursed after a hacker or hackers reportedly exploited a vulnerability in the exchange's coding in order to steal the funds.

Poloniex says it repaid customers using what would have been its profits from running the exchange.

Based in Montana, the digital currency company trades blackcoin, litecoin and vertcoin, among a number of additional alternative digital currencies.

At press time, at least one customer had confirmed that he had been reimbursed by the company.

CoinDesk has reached out to additional customers, who have not yet responded to inquiries.

Though Poloniex suffered a breach of its bitcoin reserves, D'Agosta indicated that it was the success of an altcoin that helped the company escalate its repayment plans.

"If any coin should be singled out for helping to provide the boost in volume that enabled us to pay back customers quickly, it is Monero. Being a supporter of innovative cryptocurrencies, we were the first major exchange to list CryptoNotes, and Monero is still traded primarily on Poloniex."

Though Poloniex was early to list another popular privacy-focused digital currency darkcoin, D'Agosta indicated that darkcoin's trading did not factor as much into customer repayment.

The news of Poloniex's repayment success follows May's headline that online black market website Silk Road 2.0 had reimbursed its users following a February hack.