The Kraken exchange reported on Tuesday delays in user withdrawals – this is the second incident it has reported in one day. The notification appeared shortly after 14:00 UTC. The company stated that it identified the cause of the malfunction but did not specify a timeline for resolution, did not provide a list of affected assets, and did not disclose details of the incident. According to Kraken's status page, 23 out of 725 services for deposits and withdrawals were marked as degraded. By "funding," the company refers to the movement of funds to and from accounts, i.e., deposits and withdrawals. Meanwhile, trading, the website, and data streams of the exchange continued to operate normally.
Most of the funding issues preceded Tuesday. On September 4, Kraken suspended deposits on more than 20 blockchain networks, including Cosmos (ATOM) and Celestia (TIA) – this issue remains unresolved as of the time of publication. Earlier on Tuesday, the exchange also reported delays in updating account balance histories: daily data has since been restored, while hourly data remains delayed. Kraken did not disclose details about the nature of the malfunction and did not clarify whether the new event is related to the incident on September 4 or if it is a separate issue, as reported by BeInCrypto.
The current sequence of outages comes at a sensitive time for Kraken. Last week, it became known that Kraken’s parent company – Payward – is conducting a listing on Nasdaq and the London Stock Exchange, while simultaneously pushing back its own IPO for the exchange to 2027. For institutional clients, the reliability of payment processing is a key criterion for evaluating the platform. A series of outages in deposits and withdrawals complicates this argument. Additionally, Payward is preparing to launch trading of tokenized London stocks for investors in 110 countries, which also depends on the stability of the infrastructure.