HowTo: Move your MAID from an exchange (Poloniex before January 30th, 2020)

Yes, but you can use a computer to insert the Seed. The program (the omniwallet web site) gives you a list of words and you can click on them, so even if you have a keylogger it will be difficult for them to take you Seed… Plus, your Trezor device tells you when to enter a word in shuffled order.

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Hi again, I remember reading something about someone having trouble with sending their MAID and that segwit was mentioned in the conversation was mentioned a few days back. I could not find that thread again, but what I did find was this support ticket for https://omnitrezor.com which mentions that it seems to work with segwit only.

So assuming this is true and that segwit adressess are the way to go perhaps the trezor section in the guide should say explicitly that one should NOT use the “legacy adresses” (in other words the non segwit adresses) in http://wallet.trezor.io to later be able to send MAID using https://omnitrezor.com .

Note that I have not confirmed this myself.

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I can confirm the problem. I tested with “Legacy account” (address starts with “1”) and can’t send MAID from that address. I updated the guide. 1 MAID is burned forever :wink:

Thank you for the info friend :dragon:

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Great! Well for now I hope you can live with that :slight_smile: In the future if 1 MAID ever make it worth the hassle, as you might have read in this comment, it seems like moving the MAID using the bitcoin wallet from a legacy address to a segwit address will fix the problem and make it possible to send the MAID using https://www.omnitrezor.com/

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Doesn’t work with the hardware wallet Trezor, friend. Omniwallet works perfectly with paper wallet! :dragon_face:

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I have a friend who’s 2FA isn’t working for Polo (it is for everything else). He has MAID and obviously wants to move it. He’s contacted Polo but no joy. Anyone had similar issues and managed to get through to them?

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I added info on how to protect the Trezor from physical harm and how to contact me for personal assistance :dragon:

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Let’s hope that everyone is successful and does not forget to move their coins. What happens to the coins after? Can the exchange effectively seize them?

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People who have not verified (KYC) their account are unlikely to see their money. There is a proposal to exclude the MAID remaining in Poloniex from the conversion to SafeCoin :dragon:

Thanks for your response, while that makes sense, until that conversion happens, then they are free to use this huge amount of MAID in any way they like? I don’t want to be jumping the gun but that sounds downright criminal not to mention just how much that would allow said party to manipulate, right?

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This is the best way forward.
Poloniex will not let owners withdraw or claim tokens after 30th Jan. It shouldn’t be too difficult to keep that window open indefinitely or send coins back “return to sender”.

Since poloniex effectively declares those coins dead, we should absolutely block those coins from conversion. I really don’t agree with the way poloniex handles post delisting.

I guess we need to keep track of coin movement from poloniex addresses so they can’t claim the conversion from another address in the future.

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You must also consider that Poloniex most likely legitimately owns some or many of those coins because they charged fees for withdrawal. There is no legit argument to say they converted them to btc. Its likely they did for some or all, but you cannot say that for a certainty.

1000’s of withdrawals per week/month over the years adds up to a tidy amount and legally you cannot then turn around and say they cannot convert them

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Absolutely true, but if this is how exchanges are run it’s pretty poor management. Fees should be converted on a regular basis to avoid stockpiles that then pose significant risk to projects if this is the case.

I mean what project would encourage users to use your exchange if they know this is the outcome.

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That is a management decision and there are potential reasons for doing it either way.

For instance Poloniex was going to one of the first exchanges to support safecoin and even reached out to the team a few years ago. So they could have seen it as a way to have a market with coins to sell early on. They’d convert their saved up maid to startup the safecoin market

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I left it quite late withdrawing but noticed I that no further emails were sent by polo to remind me. I know the last email in Dec said they would send out multiple reminders before. Either incompetent imo or a strategy to retain (steal) the left coins. If it’s the latter surely that’s a dangerous situation with potentially a single player holding such large percentage of total?!

Of course going the other way selfishly it would benefit me having these coins disappeared ie deflation ?

Hope it gets resolved but for sure don’t like how it seems up in the air… It should be clear what happens to the unclaimed coins ie from polo side. Just the wild West still or am I misunderstanding?

Maybe some kind of agreement can be reached between polo and maid taking into account the fees or whatever. Would be best to freeze the coins if that’s possible before it’s not possible anymore.

Clearly they haven’t acquired 10% of market cap from fees for example

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They never let us know about delist, I suspect the chance of a “deal” is very remote. They don’t answer any email we send them. They would only lose cash really if you think about it and as a business it’s not in their interests.

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Thanks for the reply sir. I understand why you wouldn’t have been informed before, I guess the reasoning could be to limit insider trading etc.
Altogether seems not ideal situation but you can’t really worry or change what’s out of your hands. On the other hand if there was anything that could be done without their consent or opening of dialogue then please consider. Sorry you have to deal with this level of scumminess

I’m not in the crypto world really (and maybe because of this), but flabbergasted that they in theory can keep these coins. Or even it not being some contingency that is already worked into their terms and conditions and transparent to all.

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And this is why there will always be lawyers. It’s impossible to imagine all of the ways in which people can behave badly before or at the moment when a deal is struck. Now it’s about who has the resources (time, money, etc.) to fight over trying to get to a “fairer” (or to be honest, “advantaged”) position.

I also think it’s unfair that Polo can just keep the unclaimed funds. They ought to have to publish how many are fees and how many are truly unclaimed. They of course never would unless legally required to do so, and then I’d assume they’d just cook the numbers anyway. Ironic, because that would be the precise sort of thing blockchain is designed to prevent…

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Can someone help? I had maidsafe on poloniex but an ex colleague helped me set it up a few years ago and I don’t really know what I’m doing. Have tried to follow the instructions and bought a trezor 1 wallet from amazon. Have followed all the instructions and used the long key to transfer the maid. Seemed to work except the transfer says something like 0.000000005 bitcoin which is worth about $0.05! I have read that I need to do something with omnitrezor to see the balance but am totally stuck. Have I done something wrong and lost it?
Thanks

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