Kraken told customers on Tuesday that withdrawals were stuck, the second service fault the exchange disclosed in a single day. The exchange's status board listed 23 of its 725 funding services as degraded, while a separate deposit outage across more than 20 blockchain networks that started on September 4 remains open.
Kraken told customers on Tuesday that withdrawals were stuck, the second service fault the exchange disclosed in a single day. The notice went up shortly after 2 p.m. UTC. Kraken said it had identified the cause but gave no timeline, no list of affected coins, and no account of what broke.
Funding faults pile up
Funding is the exchange's term for money moving in and out — deposits and withdrawals. Trading, the website, and Kraken's data feeds all stayed operational. The company's status board listed 23 of its 725 funding services as degraded, and most of that damage predates Tuesday.
On September 4, the exchange paused deposits across more than 20 blockchain networks, including Cosmos (ATOM) and Celestia (TIA), and that incident remains open.
A bad week before a big year
Hours earlier, Kraken reported that account balance histories had gone stale. Daily figures have since recovered, while hourly figures remain behind. Reliability carries unusual weight for the firm right now. Kraken parent Payward is wiring itself into Nasdaq and the London Stock Exchange, even as the firm keeps delaying its own IPO, now aimed at 2027.
Institutional clients judge an exchange on whether money moves when they ask for it. A run of funding faults complicates that pitch. Payward is also preparing to sell tokenized London stocks to investors in 110 countries. Kraken has not said what failed. Whether Tuesday's problem is new, or another symptom of the September 4 outage, the next update should say.
Source: BeInCrypto
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