KRAKEN BACK ONLINE

Updated: 01/15/2018 15:25
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kraken online
Kraken is back online after a long maintenance, which lasted till evening January 14. Withdrawals re-enabled, systems functioning well
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Kraken is back online after a long maintenance, which lasted till evening January 14. Withdrawals re-enabled, systems functioning well

What originally was to become a two-hour break in the work of the popular crypto-currency exchange Kraken, turned into a test and stress for customers, which lasted several days.

On January 10, representatives of Kraken announced that they would update the system, and this would lead to operations being put on hold for approximately two hours. However, no one expected a multi-day off-line - Kraken had many problems in the upgrade process, which lasted more than 48 hours.

One of the biggest problems was the lack of communication with Kraken in social networks - there was not a single record in the official Twitter of the exchange during the prolonged update. Nevertheless, on the status page of Kraken, the Exchange employees constantly informed users about the process/.

Undoubtedly this did not prevent many industry media from questioning the situation and raising a wave of panic that led to rumors that the exchange was hacked. However, members of the community have a right to worry - hacking of such large exchanges as MtGox, BitStamp and Bitfinex already cost them millions of dollars.

Max Kaplan, a Kraken employee, tried to calm the troubled customers of the exchange by writing in his Twitter account the following: "...I can assure you your funds aren't lost and all stale orders will be cancelled when we come back up. This is not our proudest moment just like it's not Gox 2.0. Please follow along on http://status.kraken.com for continued updates..."

In one of the status updates on January 12, Kraken acknowledged these errors:

Update - We are making progress on the few remaining issues but don't have a definite launch time yet. We intend to cancel stale (and possibly all) orders and pause liquidations upon resuming service. More details to follow soon. Thank you for your patience.
Jan 11, 21:41 UTC

Update - We are currently working to resolve a number of issues that came up during final testing. At this stage it is uncertain when exactly these issues can be fixed, but we will update again when a more definite ETA can be given.
Jan 11, 19:07 UTC

Update - In the final stage of installing the upgrade now. We are getting close but hard to give an exact ETA since it depends on how the final testing goes.
Jan 11, 15:27 UTC

Update - The upgrade is going much more slowly than anticipated. It will probably be two hours or more until systems are back online.
Jan 11, 12:14 UTC

Fortunately, everything ended well - on the evening of January 14, the Exchange team wrote that the work of the site was resumed. In addition, the company's blog has a record that until the end of the month the platform will not charge a commission for trading. However, this decision does not apply to margin trading.

According to the exchange, such a long simple Kraken was associated with the replacement of the old trading system and the problems that arose due to the update.

The latest updates say that withdrawals have been reenabled and the issues seem to be resolved:

Update - If you are still seeing the 'maintenance' message on the homepage or the 'disabled' message on the withdrawals page, try a hard refresh by holding the shift key down while hitting the reload button on your browser.
Jan 15, 06:39 UTC

Update - Withdrawals are now enabled. We are aware of a rare issue preventing some new withdrawal addresses from being confirmed. Please try another address if this happens. Also, if you held bitcoin on your Kraken account at Bitcoin block #472889, you have been credited with your Stellar lumen (XLM) from the last airdrop. Note: the new trading interface still uses the old STR ticker (https://trade.kraken.com/kraken/strbtc)

Although the situation with Kraken turned out to be a false alarm, it can provoke increased caution of traders who have recently come to the crypto currency market with regard to centralized exchanges. Given that hackers are increasingly looking to the crypto-currency industry and do not miss the chance to profit from investors, perhaps excessive caution does not hurt.


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