Crypto Exchange Kraken Returns with Zero Trading Fees After Multi-Day Outage

What was originally planned as a two-hour outage for popular cryptocurrency exchange Kraken, turned into a multi-day ordeal, and an emotional rollercoaster for customers.

On January 10thKraken announced that they would be performing system upgrades on that would take all of their existing systems offline. However, no one expected a multiple-day outage, as Kraken experienced plenty of hiccups during their upgrade process which lasted over 48 hours.

One of the largest issues with the situation was the lack of communication from Kraken. Kraken remained incredibly quiet on their official twitter account throughout the ordeal, as it didn’t tweet a single time during the extended outage. However, Kraken’s status pageremained fully updated, and consistently informed users of the upgrade progress – including details as granular as how developers were “mainlining coffee.”

That, of course, didn’t stop the media-wave from expressing doubts about the situation, causing widespread panic as many began to believe it was possibly a hacking situation. The cryptocurrency space is no stranger to exchange hacks, considering that millions have been lost in the past between the Mt. Gox incident in 2013, Bit Stamp’s hack in 2015, and even the Bitfinex hack in 2016.

Call and Response

Although users took to social media to express their outrage, Kraken employee Max Kaplan took the stand to provide a bit of clarity and said “Kraken has never been hacked and still remains unhacked.” He also acknowledged that the team “dropped the ball on the upgrade,” but assured customers that their holdings were still safe…

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