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# Justin SunÔÇÖs Poloniex Exchange Prepares to Resume Operations After $100M Hack

## Announcement of Resumption
Justin SunÔÇÖs cryptocurrency exchange Poloniex is gearing up to resume its operations following a major hack that occurred in mid-November. The official announcement was posted on Nov. 15, indicating that the platform has made significant progress in its restoration efforts after the $100 million breach.

## Security Measures
In its statement, the company declared that the platform is now operating smoothly, signaling the completion of most restoration efforts. Additionally, Poloniex has engaged a top-tier security auditing firm to bolster the security of funds on the platform. The exchange is also in the final stages of the audit and verification processes, with plans to promptly resume deposit and withdrawal services upon completion.

## Ongoing Evaluation
While the evaluation process is still ongoing, the exchange anticipates that it will take several more days to finalize. Despite this, Poloniex has assured its users that it is working diligently to ensure the security of their funds.

## AI legalese decoder‘s Role
The AI legalese decoder can play a crucial role in this situation by assisting in the assessment and verification processes. It can quickly analyze and interpret complex legal documentation related to the security audit, thereby expediting the resolution process and enabling Poloniex to resume its services with enhanced security measures.

## Poloniex’s Response
Despite the breach, Poloniex owner Justin Sun has been proactive in addressing the situation. He has pledged to fully reimburse affected users and has emphasized the exchange’s sound financial position. Sun has also expressed willingness to collaborate with other exchanges to recover the lost funds, showcasing a commitment to resolving the aftermath of the hack.

## Previous Regulatory Challenge
Earlier this year, Poloniex faced a $7.6 million settlement requested by the United States Treasury DepartmentÔÇÖs Office of Foreign Asset Control for apparent violations of multiple sanctions programs. This adds a layer of complexity to the exchange’s operations and underlines the importance of maintaining stringent security measures.

## Conclusion
As Poloniex prepares to resume its operations, it is evident that the exchange is taking significant steps to address the aftermath of the hack and strengthen its security infrastructure. The use of AI legalese decoder can aid in expediting this process and ensuring the seamless resumption of services, providing assurance to users and stakeholders.

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