Wednesday, October 4, 2023

Kraken fixes some gateway issues after a brief delay in withdrawals

Update: Kraken has fixed the issues regarding its gateway as of 8:35 AM UTC, and operations are back to normal.

Cryptocurrency exchange Kraken said it is investigating an issue with several cryptocurrency funding gateways, including major ones such as bitcoin (BTC), ether (ETH) and ERC-20 tokens, which has led to operational delays.

On June 6, the Kraken status page said: “Deposits and withdrawals are currently delayed. We will provide any updates as soon as possible.”

The first notice was posted around 07:44 UTC, when deposits and withdrawals were delayed. This was followed by two updates at 8:06 AM UTC and 8:13 AM UTC, stating that “work is still being done” for the issue.

The status page didn’t make it clear what was causing the problem.

At 8:35 UTC, the status page returned to normal, with all updates on delays and issues.

Cointelegraph reached out to Kraken for more details on the cause of the issue.

The Kraken futures platform is expected to be unavailable to users for approximately 10 minutes on June 6 at 10:30am UTC. The exchange says the reason for this is maintenance of the site.

Kraken is currently facing demands from the US Internal Revenue Service (IRS) to provide customer information, which the exchange has called “unfair treasure hunting”.

The exchange asked the San Francisco courts to intervene, claiming The IRS has “gone too far” with its unreasonable demands.

On April 18, Kraken received the right to operate as a virtual asset service provider in Ireland. With this authorization, Kraken becomes the third largest registered cryptocurrency exchange in Ireland after Gemini and Coinbase.

Recently, Kraken’s head of security, Nick Percoco collaborated with a popular streamer to create a fake cryptocurrency account on the exchange and “bait” malicious users out of its ecosystem.

Disclaimer: The information and/or opinions expressed in this article do not represent the views or editorial line of Cointelegraph. The information presented here should not be construed as financial advice or investment recommendation. All investments and commercial dealings involve risk and it is the responsibility of each individual to conduct appropriate research before making any investment decision.

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World Nation News Desk
World Nation News Desk
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