kraken can't withdraw for 72 hours

Kraken has temporarily suspended withdrawals for all assets due to a scheduled security update, with operations expected to resume in 72 hours.

Nov 03, 2024 at 11:08 pm

Kraken Withdrawals Temporarily Suspended for 72 Hours

1. Background

Cryptocurrency exchange Kraken has announced a temporary suspension of withdrawals for all assets for 72 hours, effective immediately. This suspension affects both fiat currency and cryptocurrency withdrawals.

2. Reason for Suspension

Kraken has cited a "scheduled maintenance and security update" as the reason for the suspension. The exchange has stated that the update is necessary to enhance the security of its platform and to ensure the protection of customer funds.

3. Duration of Suspension

The maintenance and update process is expected to take 72 hours, or three full days. Withdrawals will be resumed after the maintenance is complete.

4. Other Services

Other services on the Kraken platform, such as trading, depositing, and staking, are not affected by the withdrawal suspension. Customers can continue to use these services as usual.

5. Customer Communication

Kraken has informed customers of the suspension via email and notifications on the platform. The exchange has urged customers to plan accordingly and to avoid initiating withdrawals during the suspension period.

6. Impact on Customers

The withdrawal suspension may cause inconvenience to customers who need to access their funds immediately. Kraken has advised customers to consider this suspension when planning their financial transactions.

7. Security Measures

Kraken has emphasized that the withdrawal suspension is part of its ongoing efforts to enhance the security of its platform. The update will include security enhancements to protect customer assets and prevent unauthorized withdrawals.

8. Next Steps

Kraken has stated that it will provide regular updates on the progress of the maintenance. Customers are advised to monitor the Kraken website and social media channels for the latest information.