Poloniex announced a $100 million User Protection Fund to safeguard customer assets on its global platform. The new security reserve adds another layer of protection beyond the exchange's existing Proof of Reserves framework, which has maintained 100% coverage for over 20 consecutive months.
"User asset security has always been our foremost priority," said a Poloniex spokesperson. The fund strengthens the platform's resilience during extreme market conditions. Additional details about the fund's structure and coverage will be released in future announcements.
Founded in 2014, Poloniex supports trading of over 350 cryptocurrencies with services including spot trading, margin trading, perpetual futures, lending, and staking.