Cryptocurrency exchange Kraken has had a busy week. On June 6, the exchange experienced operational delays due to issues with several crypto funding gateways.
The delays affected deposits and withdrawals for Bitcoin (BTC), Ether (ETH), and ERC-20 tokens. Kraken said it has since fixed the issue and that all services are now operating normally.
In addition to the operational delays, Kraken is also facing demands from the Internal Revenue Service (IRS) in the United States to submit customer information.
The exchange has called the IRS’s demands an “unjustified treasure hunt” and has filed a lawsuit in San Francisco to block the agency from accessing its customer data.
Despite the recent challenges, Kraken has also made some positive news. On April 18, the exchange was authorized to operate as a virtual asset service provider in Ireland. This makes Kraken only the third cryptocurrency exchange registered in Ireland, following Gemini and Coinbase.
Most recently, Kraken chief security officer Nick Percoco collaborated with a popular streamer to create a fake crypto account on the exchange and “scam bait” bad actors in its ecosystem. The experiment was successful, and Kraken was able to identify and block several scammers.
Overall, it has been a busy week for Kraken. The exchange has faced some challenges, but it has also made some progress. Kraken is a well-established exchange with a strong track record, and it is likely to continue to grow in the years to come.
Ava Patel's expertise lies in creating engaging and informative content about the latest trends and opportunities in the crypto space. Her writing is known for its clarity, accuracy, and ability to convey complex concepts in a way that is accessible to both novice and advanced readers.
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