Kraken is under maintenance for two days

Originally, the exchange update was planned for 2 hours
12 January 2018   386

Largest exchange Kraken updates its system for the second day, although initially planned to complete all the work within 2 hours. This is reported by Trustnodes. 

When it became clear that the exchange does not fit within the specified time frame, the message about unplanned delays appeared on the page intended for tracking the current status of the service. Later, the company reported that the work will continue for another 2 hours. And then this appeared:

Kraken unconfirmed screenshot
Kraken unconfirmed screenshot

The second weird status update above is unverified, but the latest status update for the exchange says:

We are still working to resolve the issues that we have identified and our team is working around the clock to ensure a smooth upgrade. This means it may still take several hours before we can relaunch the site.

Kraken Team

Probably, this is one of the longest updates in the history of crypto exchanges. It is still not clear what exactly happens on Kraken. The update should have been launched on January 6, but it was postponed several times. In one recent message, the exchange wrote:

While performing final checks ahead of rollout, we discovered a problem in one of the system components and expect to make another attempt after the issue has been resolved, in the next few days.

Kraken Team

They provided no detail regarding what issue was discovered. In a message posted this night on the status page of the service, they write: “protracted downtime has nothing to do with funding/reserves.”

The Kraken exchange experienced problems for several months, due to which traders often could not access the interface of the site, and the order placement sometimes required 20 or more attempts.

Often the site itself was not available, displaying various errors, which indicates that Kraken, like many other exchanges, was not ready for such a rapid increase in the number of users.

Finally, Kraken came to update its system, but its two-hour work turned for users almost two-day blocking of funds.

Kraken to Refuse to Answer NY's Attorney General's Inquiry

Kraken was one of 13 exchanges that received a letter from New York Attorney General as part of his new inquiry into cryptocurrency exchanges
19 April 2018   104

Kraken does not intend to respond to the request of the Attorney General of the State of New York. This is reported by Coindesk.

Kraken was among the 13 exchanges that received a letter from Eric Schneiderman. Although most of the trading platforms supported the initiative of the attorney, Kraken decided to take a different position from them.

Kraken's BitLicense-prompted exit from New York in 2015 pays another dividend today. I realized that we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet.

Jesse Powell

CEO, Kraken

Kraken left New York in 2015 due to the fact that this state adopted a set of rules for crypto-currency companies called BitLicense. The Exchange called the ruling "a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth."

Powell added that Kraken is ready to cooperate with the government, but condemns Schneiderman's approach.

Why don't you try extracting this information from those businesses actually operating in your state?

Jesse Powell

CEO, Kraken

Attorney's spokeperson provided a comment:

Legitimate entities generally like to demonstrate to their investors that their money will be protected. This is basic information that credible platforms should all have on hand.

 Attorney General's office spokeperson

The set of BitLicense rules turned out to be ineffective, as most crypto-currency companies found it inadequate and simply refused to continue operatng in New York. In February, lawmakers raised the issue of revising or even completely abolishing BitLicense.