Kraken Experiencing Delays in Operational and Investigation of Crypto-Financing Issues

The third cryptocurrency exchange Kraken registered in Ireland. (photo: twitter @krakenfx)

JAKARTA - Crypto-currency exchange Kraken announced that it is investigating issues with several crypto financing gateways, including major ones such as Bitcoin (BTC), Ether (ETH), and ERC-20, which caused operational delays.

On June 6, Kraken's status page stated, "Deposits and withdrawals are currently experiencing delays. We will provide an update as soon as possible."

The first notice was posted around 7:44 a.m. UTC when deposits and withdrawals were delayed. This was followed by two updates at 8:06 a.m. UTC and 8:13 a.m. UTC stating that they were continuing to "find a solution" to this issue.

The status page doesn't clearly explain what is causing the problem. At 8:35 am UTC, the status page returned to normal with no updates regarding the delay and issue.

The Kraken futures platform is expected to be unavailable to users for approximately 10 minutes at 10:30 a.m. UTC on June 6. The exchange stated that the cause was site maintenance.

Currently, Kraken is facing requests from the Internal Revenue Service (IRS) in the United States to submit customer information, which the exchange deems to be "unfair soliciting".

The exchange asked the courts in San Francisco to step in, arguing that the IRS had "overstepped the mark" with unwarranted charges.

On April 18, Kraken was authorized to operate as a virtual asset service provider in Ireland. This permit makes Kraken the third cryptocurrency exchange registered in Ireland, after Gemini and Coinbase.

Recently, Kraken's chief security officer, Nick Percoco, teamed up with a well-known streamer to set up fake crypto accounts on the exchange and "hook" evildoers within its ecosystem.