0

I sent some ether to Poloniex https://etherscan.io/address/0x2b85d38c4c3d9422f75156ea36f479ab26a98faa As you can see in etherscan.io, there are 2 income transfers for this address. This is for my Polonix account. After that, I tried to do withdraw some ether and checked the transaction. https://etherscan.io/tx/0x5f32f8ca905f975cf8c2977b3f3cefcf5f0ad6b3f7c704d8b761e2671f1034d8 This is my withdraw transaction. But from address is "Poloniex Wallet". What is "Poloniex Wallet"? Polonix has their pool address? If they have pool address, how can they have my ether?

I also checked this Poloniex Wallet in Etherscan. https://etherscan.io/address/0x32be343b94f860124dc4fee278fdcbd38c102d88 But there is no any income transfers? It is weird.

Such this problem is also showing in Okex. I did withdraw to 0xf4A3D01Dc620687301b678b437913d57CA511bf9. But from address is not my account. It says from address is 0x236F9F97e0E62388479bf9E5BA4889e46B0273C3 but my Okex address is 0x9CdAEFeE6fAe05B98A4a1492E2596b96712fB8A5.

How can I understand this problem? Please let me be clear about this problem.

  • 1
    With exchanges you might not have constant address. Sometimes, the funds are kept together in different accounts, sometimes each transactions use separate account. Depends on how exchanges implement it. There might be fund account and exchange account. – 1sn0s Feb 11 '18 at 14:35
  • Well,, But it is showing as a poloniexwallet when someone made a withdraw. His exchange wallet and my one can be same? – H.Ming Feb 11 '18 at 14:49
1

Exchanges use their own wallets to hold the ethereum backed by them. You don't have an "exchange account" in the sense that there's a dedicated ethereum address at each exchange for only your funds to sit in. Instead, exchanges move funds around all the time for the purposes of moving things from hot storage into cold storage or vice versa. This allows them to mitigate damage from being broken into -- the storage separation is necessary to isolate money and keep it out of the hands of would-be hackers.

You deposited funds into Poloniex through a deposit address linked to your account. When they received it, they credited you for that amount deposited, but that doesn't mean that you get the "same ether" back when you withdraw from them. Instead, you get whatever their hot wallet is sending you money. This is principally why you shouldn't store money in exchanges. The amount that sits on your account is only a promise that there is some ether that can be sent to you. It isn't that there's a dedicated account for you sitting there to use.

There aren't any incoming transactions in their wallet because the wallet isn't a wallet contract. This is called an EOA.

  • I am creating wallet for new exchange site. How can I create the account like "Poloniex wallet" (0x32Be343B94f860124dC4fEe278FDCBD38C102D88)? And do I need to resend ethers that I received from others? Please help me for this problems – H.Ming Feb 12 '18 at 5:17

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.