Kraken notified customers on Tuesday that withdrawals were experiencing delays, the second service disruption the exchange disclosed within hours. The notice appeared shortly after 2 p.m. UTC.
The company stated it had identified the cause of the withdrawal delays but provided no timeline for resolution, did not specify which cryptocurrencies were affected, and offered limited details about the underlying issue. Trading, the website, and data feeds remained operational during the disruption.
Funding Services Under Strain
At the time of the notice, Kraken's status board listed 23 of its 725 funding services as degraded. Funding refers to deposits and withdrawals on the exchange.
Earlier on Tuesday, Kraken reported that account balance histories had become stale. Daily historical figures have since recovered, though hourly data remains delayed.
Broader Context for the Exchange
The funding disruptions come amid significant corporate activity at Kraken's parent company, Payward. The parent firm is in the process of listing on the Nasdaq and London Stock Exchange. Kraken itself has postponed its planned IPO, with the company now targeting 2027 for a public listing.
On September 4, Kraken paused deposits across more than 20 blockchain networks, including Cosmos (ATOM) and Celestia (TIA). That incident remains unresolved.
Payward is also preparing to offer tokenized London stocks to investors in 110 countries, underscoring the importance of operational reliability during this expansion period.
