Kraken and Gate Crypto Exchanges Suffer Asset Withdrawal Downtime

2023-11-2 10:22

On November 2, 2023, leading crypto exchanges Kraken and Gate experienced unexpected withdrawal downtimes, leaving users temporarily unable to access their crypto assets. 

Kraken, a globally recognized crypto exchange, underwent a 40-minute withdrawal freeze. The company swiftly reported that a fix had been implemented, restoring normal service.

Kraken and Gate Exchanges Pause Crypto Withdrawals

This interruption nearly coincided with scheduled maintenance on Kraken at 08:00 UTC, although it remains unclear if the two incidents are related.

Kraken Crypto Exchange Crypto Withdrawals Deposits Delayed. Source: Kraken

Simultaneously, Gate, another prominent crypto exchange, suffered a more prolonged withdrawal downtime. For a staggering six-hour period, many users found their crypto withdrawals paused due to an unspecified technical problem. 

Screenshot of Gate crypto exchange outflows from the start of the withdrawal issue period. Source: Arkham Intelligence

These incidents underscore the inherent risk of storing crypto assets on exchanges. While exchanges like Kraken and Gate offer convenience and access to a wide range of cryptocurrencies, they also present potential vulnerabilities.

Users must consider these risks when deciding where to store their crypto assets.

Read more: Hot Wallets vs. Cold Wallets: What’s the Difference?

Kraken Trying to Get Foothold in Europe

Kraken, in particular, has been making significant strides in expanding its global footprint. The company recently appointed Bivu Das as the new managing director for its UK operations. This strategic decision reflects Kraken’s commitment to assert its presence in the UK, one of its most significant markets.

Das said,

“Kraken has long advocated for the potential crypto assets have to transform how everyday people interact with financial services.”

The appointment of Das, a seasoned veteran in the crypto industry, is expected to strengthen Kraken’s position in the competitive crypto market.

These withdrawal downtime incidents at Kraken and Gate are a reminder of the importance of secure crypto storage. As the crypto market continues to evolve, users must stay vigilant, ensuring the safety of their assets while enjoying the benefits of these dynamic platforms. 

While crypto exchanges like Kraken and Gate offer a gateway into crypto, they are not without their challenges. Users must remain informed and proactive, securing their assets and navigating the crypto markets with caution and insight.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

The post Kraken and Gate Crypto Exchanges Suffer Asset Withdrawal Downtime appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto kraken withdrawal exchanges gate downtime asset

crypto kraken → Результатов: 126


Kraken Obtains License from the UK’s Finance Regulator, Focuses on Design with New Hire as Masses Join Crypto

Cryptocurrency exchange Kraken’s wholly-owned subsidiary Crypto Facilities has obtained an MLR license from the UK Finance regulator, the Financial Conduct Authority (FCA). This means the company is now compliant with money laundering regulations in the country and that it is following the same standards as required by FCA from the banks.

2021-11-16 18:18


Kraken exchange lists BAT and WAVES token for trading

Given the need to build differentiators in order to survive the market, crypto businesses have taken the “collaboration” approach to the next level. While ecosystems such as Cardano and Ripple are making headlines for hiring some of the most influential players across the fintech landscape, crypto exchanges are racing to list the most innovative and […] The post Kraken exchange lists BAT and WAVES token for trading appeared first on AMBCrypto.

2019-8-21 17:25


Kraken Acquires Crypto Derivatives Platform, Crypto Facilities, in a 9 Figure Deal

In one of the most strategic moves of 2019, the exchange known as Kraken has acquired the U.K based Crypto Facilities crypto trading platform and index provider. Kraken, based in San Francisco, combined with the reach Crypto Facililities has in Europe, creates a combination that will create a global leader in cryptocurrency spot and futures […] The post Kraken Acquires Crypto Derivatives Platform, Crypto Facilities, in a 9 Figure Deal appeared first on Ethereum World News.

2019-2-5 21:17


Биржа Kraken приобрела Crypto Facilities, британскую платформу криптовалютных деривативов

Американская криптовалютная биржа Kraken объявила о приобретении британской торговой платформы криптовалютных деривативами Crypto Facilities, которая предоставляет фьючерсы на биткоин, лайткоин, эфир, Bitcoin Cash и XRP, а также предоставляет данные для индекса биткоин-фьючерсов Чикагской товарной биржи.

2019-2-4 20:41


Фото:

Kraken Crypto Trade, Community Impact Bloomberg Article on Tie ‘Red Flags’

Major crypto exchange Kraken has issued a scathing response to a recent Bloomberg article about stable cryptocurrency Tether (USDT) allegedly “defying logic” on Kraken’s platform. The article in question, titled “Crypto coin Tether defies logic on Kraken’s market, raising red flags,” was published on Bloomberg June 29, with comments and analysis from several academics and

2018-7-3 22:16


Фото:

Bloomberg Wakes Kraken: Good Fails To Come Of This

Just when you thought the ongoing tit-for-no-tat between the business media and the crypto pages couldn’t get any more entertaining, one of the smaller exchanges has returned fire. Kraken, which was accused by Bloomberg last week of rigging the Tether game, shot back with a blog post that unmasked the technical incompetence that is characteristic of many […] The post Bloomberg Wakes Kraken: Good Fails To Come Of This appeared first on Crypto Briefing.

2018-7-3 00:58