In theory, they could have sold part of the Crypto that users gave to them. Under the assumption that not everyone that trades there wants to take their crypto out at the same time. All people are doing on Poloniex is trading ledger entries. Until you ask for your crypto to be sent to your wallet that's all it is.
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so in short, they would do what fiat banks do with our money as well. Speculate with it and invest it and do all sorts of things that could 'jeopardise' the amount they have / can give back ?