Kraken. The squid from hell.
Kraken, one of the largest Bitcoin Exchange platforms is down for hours. It began this morning when the total of the balances showed to less because the interface to all exchange rates has failed. The company wraps itself in total silence on every channel.
Since the company is not reacting on any channel, many people upload screenshots on Twitter with their failing attempt to access to their account. Some of them can login but withdrawing is deactived. From the perspective of Kraken we can expect the possibility to take away your fiat money or coins will not be allowed to prevent a large deduction of the funds.
What really happens right now might not even know the support staff if they are not on the run anyway - but these are most expressed assumptions:
- The company has run out of licenses for sessions
- Kraken is under DDOS attack
- The current performane of coin trading has taken too many users attracted
- Unexpected maintenance
- The company is under attack of the FBI
From my point of view I assume point 1 and 3 are realistic to be true. Further more I guess they are using technologies that not scale enough. Many hope the platform will be back as soon as possible.
The crisis communication of the company is valueless. No matter how it goes out, the damage for Kraken will be huge.
What are your thoughts? Please wirte it in the comments. Work in progress.
io
Don't know how to scale is probably the better option. But at some point if you don't want to die you have to ¯_(ツ)_/¯
why is that @iostatus, do you know any alternative?
I suggest to take a closer look at Bitfinex, the largest Exchange platform. They are technically extremely stable no known issues but the handling is more complex and for experienced traders. There are some nice features overthere that I miss at Kraken
The experts I follow like kraken a lot more than bitfinex
Experts that are willing to loose their fund?
I can't wait for the Blocknet to deliver.