Kraken exchange crash (September 7, 2021)
Kraken exchange crash (September 7, 2021) Kraken exchange crash (September 7, 2021)

Today’s collapse in exchange rates (which affected the vast majority of cryptocurrencies), caused many investors to start selling their cryptocurrencies in a panic. Others, however, decided to use this as an opportunity to buy cheaper.

The increased interest in trading affected not only the availability of sites like CoinGecko, but also the operation of one of the most popular cryptocurrency exchanges (Kraken exchange, as it is referred to, ranks seventh in terms of number of visits).

Problems of Kraken exchange users

The problem with the functioning of the exchange was reported to us by concerned readers. However, do not panic, because information about the possibility of problems appeared on the official website.

The first message appeared at 16:03 UTC (14:03 our time) and concerned problems with obtaining a connection to the exchange through the website, mobile application and API. The exchange quickly identified the problem and began working to fix it.

“We are receiving reports of clients having difficulty connecting to the site and API as well as via mobile apps. We have identified the issue and are working to resolve it. We will provide any updates as soon as we have more information.”

Several minutes later it was reported that the work continues and there are problems with payments made by card (the exchange stressed that the funds collected for unsuccessful payments will be returned in the next few hours). The next message, however, informed about the inability to log into the platform and use the trading function.

Less than an hour after the notification a message appeared confirming the restoration of full functionality related to trading. However, it was added that due to further work there may be delays in operation. In a subsequent message it was announced that the fix had been implemented and that the status of the service would be monitored further.

“A fix has been implemented and we are monitoring the results”.

The last message, dated 17:07 UTC (our 15:07), addresses issues related to electronic funds transfers (ACH) used in the US. The exchange is aware of the situation and is still working to resolve the issue.

To all the readers who informed us about the problem, thank you for your vigilance! We also remind you that you can always check the current status of the Kraken Exchange at status.kraken.com.

How to protect yourself against problems with the functioning of the exchange?

These types of problems can occur at times of increased interest in trading, so you should think about registering on two or even three exchanges in advance. One of them may be the recently described alternative to Binance: the Mandala exchange

, but before registering you should look for additional information yourself. ) betterads_el_width = [“728”, “90”]; else if ( betterads_el_width >= 468 ) betterads_el_width = [“468”, “60”]; else if ( betterads_el_width >= 336 ) betterads_el_width = [“336”, “280”]; else if ( betterads_el_width >= 300 ) betterads_el_width = [“300”, “250”]; else if ( betterads_el_width >= 250 ) betterads_el_width = [“250”, “250”]; else if ( betterads_el_width >= 200 ) betterads_el_width = [“200”, “200”]; else if ( betterads_el_width >= 180 ) betterads_el_width = [“180”, “150”]; if ( betterads_screen_width >= 1140 ) { document.getElementById(‘sanzydwxt-192260-1950523726-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width >= 1019 && betterads_screen_width < 1140 ) { document.getElementById(‘sanzydwxt-192260-1950523726-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width >= 768 && betterads_screen_width < 1019 ) { document.getElementById(‘sanzydwxt-192260-1950523726-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}else if ( betterads_screen_width < 768 ) { document.getElementById(‘sanzydwxt-192260-1950523726-place’).innerHTML = ”; (adsbygoogle = window.adsbygoogle || []).push({});}]]>