Plutus Announces Changes to PLU Withdrawals (2023)
Plutus just announced imminent changes to PLU withdrawals, implemented starting this Wednesday, April 5th. The two changes are
- PLU withdrawal requests will now take longer than the usual weekly payout. The exact length of time will vary on a case-by-case basis.
- Plutus will now require receipts on any “suspicious” transactions; they will contact you via the official email address and request a picture of your receipt before rewards are approved for withdrawal.
Both changes are to protect PLU Rewards against fraud and suspicious money activities and transactions.
Official Announcement
Hey German,
We are writing to inform you about two important changes we will implement this Wednesday relating to PLU Withdrawals and Transaction Receipts.
These changes are being implemented to better protect Pluton Rewards and our customers against increasing instances of fraud.
PLU Withdrawals
Due to new auditing requirements mentioned below, withdrawal requests will now take a little longer than the usual weekly payout after the initial 45 day refund review period is complete – the exact length of time will vary on a case-by-case basis.
Transaction Receipts
To further protect PLU Rewards, we will now require receipts on any transactions we deem suspicious. Plutus may contact you via the [email protected] email address and request a picture of your receipt before rewards are approved for withdrawal.
Why Are We Taking These Measures?
We understand that these changes may be inconvenient, but we assure you that they are necessary to protect the integrity of rewards earned by our customers. We have already suspended fraudlent PLU rewards amounting to six-figures in value, and we estimate that up to 50,000 PLU may be held on internal balances through fraudulent means. Therefore, it is imperative that we audit new reward tokens coming into circulation.
How Will We Audit at Scale?
In addition, we are developing a streamlined solution to automate much of the auditing process. This will audit transactions within the 45-day refund period and allow us to audit at scale to protect customers who are stacking PLU from the impacts of PLU fraud.
Thank you for your understanding. If you have any questions or require any further assistance, simply contact support here and we’ll be sure to help!
