Kraken to Stop SWIFT Support

The company noted clients that SEPA EUR transfers will remain active
01 March 2018   1325

The Kraken sent a letter to its customers informing about closing the accounts for in the Japanese bank SMBC. The decision comes into force on March 21.

While this is a disappointing development, we are dedicating further resources to our banking relationships and the implementation of new funding methods. We will reach out to you again when we have further details to share.

Kraken Letter

All deposits received on these accounts before March 20, will be processed by the exchange. Starting from March 21, deposits will be returned to the sender's account. The withdrawal of funds through SWIFT in USD, EUR, GBP and JPY will be available until March 27. After that, all funds will be returned to the users' accounts on the exchange.

The exchange does not explain what exactly this decision is caused, and promises to direct efforts to establish new ties with banks, as well as to develop new methods of account refill.

Kraken to Pay $100k For Info on QuadrigaCX Lost Funds

As reported, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it
01 March 2019   181

Kraken has announced its willingness to pay a reward of $ 100,000 for information that will help in the search for cryptocurrency assets missing from the Canadian exchange QuadrigaCX.

As stated on the website of the exchange, since 2014, Kraken has invested significant resources and provided expert assistance to the trustee and investigators conducting the case of Mt. Gox, supporting the return of the largest possible number of bitcoins to the lenders of the exchange.

According to the founder, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it. As Kraken hopes, it will be able to help find at least some or all of the missing customer funds.

Simultaneously, the exchange conducted a podcast with Jess Powell, in which it published the most known information about the QuadrigaCX case and the alleged death of its founder and CEO, Gerald Cotten.

As stated by the exchange, information that will help in the search for missing funds, will be transfered to law enforcement agencies. Remuneration to informants can be paid both in cryptocurrency and in Fiat.

According to experts, QuadrigaCX’s debt to customers is $ 190 million ($ 137 million in cryptocurrencies and $ 53 million in Fiat). Due to unrecorded obligations, this amount may, however, turn out to be $ 6 million higher.