Kraken Bitcoin Exchange trading back online after major system update

Kraken bitcoin exchange has announced that trading is now back after completing its planned upgrade to mitigate issues with server overload. For some users, they will be welcomed back with zero fees, those using unleveraged trades will be charged 0% until January 31, 2018. The company planned this major upgrade right before the end of the year.

In the first moments after getting its trading engine back online, the development team noted that “all orders appear to be filling in and executing as expected.” From the latest updates, Kraken next proceeded to pause the exchange again to investigate issues with order book data not being displayed properly.

All client funds were kept safe and secure during the course of the updates. See below notes of some important information resulting from the event:

Trading

  • All orders have been canceled prior to trading resuming
  • Trading pairs launched with no orders on the books
  • All funds in previously open orders have been returned to users available balances
  • Margin positions will remain open
  • Margin liquidations will be paused for at least 48 hours
  • Creation of new margin positions is disabled for at least 48 hours
  • Caution: Clients should be extremely careful with market orders and double-check limit order prices in an illiquid market

Funding

  • Withdrawals are now disabled and will remain disabled for a minimum of 12 hours (during this time Kraken will be monitoring the new system for anomalies)
  • For fiat or crypto deposits (initiated before, during or following the downtime) users need to allow up to 2 additional business days for funds to be credited

Fees

  • All unleveraged trades will be charged zero until January 31, 2018 (UTC)
  • Margin position, open, and rollover fees are reduced to 0.005% until January 31, 2018 (UTC)

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