Kraken is under maintenance for two days

Originally, the exchange update was planned for 2 hours
12 January 2018   826

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 Launch Over The Counter Trading Platform

The minimum threshold of the new trading platform is $ 100,000
18 September 2018   187

The Kraken cryptocurrency exchange has added the possibility of over-the-counter trade in digital assets. It is worth noting that the minimum threshold for trading operations on the new OTC-platform is $ 100 000.

As stated in the blog Kraken, OTC-platform will be available "for residents of all countries."

Kraken is excited to announce a major expansion to our OTC trading platform which will enhance the execution of large block trades for clients worldwide. We offer deeper liquidity and private, personalized service to institutions and high net-worth individuals needing to fill large orders. 

Kraken Team

For trading on the site, 17 cryptocurrencies are available, including bitcoin, Ethereum, XRP, EOS, Litecoin, Monero, Dash and Zcash, as well as three fiat currencies: the US dollar, euro and yen.

The company's blog also says that the Kraken OTC team has nine professional traders from North America, Europe and Asia, ready to provide assistance to customers.

Members have a combined 100 years of trading experience working for major financial institutions such as JP Morgan, Credit Suisse, UBS, Morgan Stanley and Merrill Lynch. Kraken OTC sets itself above competitors by offering superb, hi-touch service at every step ranging from initial consultation and expert market insight, all the way through final settlement.

Kraken Team

Earlier, Kraken denied information about the massive dismissal of employees because of financial problems.