What originally was supposed to be a two hour break in the work of popular cryptocurrency exchange Kraken has turned into a challenge and stress for customers that lasted several days.
January 10 representatives of the Kraken has announced that it will upgrade the system and this will lead to the suspension of all operations at the site for about two hours. However, no one expected a multi-day offline – Kraken had a lot of problems during the upgrade process, which lasted more than 48 hours.
One of the biggest problems was the lack of communication with the Kraken in social networks — in the official Twitter of the exchange not a single entry during the prolonged update. However, on the status page Kraken staff exchanges constantly informed users about the process – even published such information that the developers «live on one coffee.»
Of course this did not stop many industry media to question the situation and to raise a wave of panic that led to the emergence of rumors that the exchange was hacked. However, community members have the right to worry about break-ins such major exchanges like MtGox, BitStamp and Bitfinex already cost them millions of dollars.
Officer Kraken Max Kaplan (Max Kaplan) tried to calm concerned customers of the stock exchange, writing on his Twitter, «the Kraken has never been cracked, and remains cracked to this day.» He also admitted that the team exchange «screwed up with the update» and assured customers that their funds are safe.
In one of the status updates Jan 12, Kraken has recognized these errors:
«Yes, that was a new record of downtime since launch in 2013. No, we’re not proud of».
Fortunately, all ended well – the evening of January 14 the team of the exchange, wrote that the work area of the resume. In addition, the company blog there was a record
that the end of the month the platform does not charge a Commission for trading operations. However, this decision does not apply to margin trading.
According to the stock exchange, so long a simple Kraken was associated with the replacement of the old trading system and the problems that arose because of the updates. In the next few days the blog will appear a message which will be presented more detailed information about the trip sites, as well as plans to improve the customer experience.
Although the situation with the Kraken was a false alarm, it can provoke extreme caution newly arrived in the cryptocurrency space traders against centralized exchanges. Given the fact that hackers are increasingly eyeing
to the cryptocurrency industry and don’t miss the chance to profit by means of investors, perhaps excessive caution can not hurt.