Kraken, the renowned exchange for cryptocurrencies, has recently been grappling with issues related to its Crypto Funding Gateways, which include BTC, ETH, and ERC-20, causing delays in deposits and withdrawals for users.
Kraken informed its users on its status page that its Kraken Futures platform would be unavailable for approximately 10 minutes on June 6, 2023, starting at 10:30 UTC. As such, users won’t be able to conduct financial transactions on the exchange during the specified period.
Kraken updated users about payment delays, stating that the exchange would inform them of post-only periods once the platform is back online and verification checks have been completed. Specifically, the support center with new features will temporarily be unavailable on June 7th between 11:00 and 13:00 UTC.
Furthermore, customers using chat and support during this maintenance period are expected to experience a 60-minute service interruption. Despite the downtime, Kraken has achieved some noteworthy milestones in recent weeks. The recently announced upgrade of the crypto gateways will provide additional features to the exchange’s users.
On May 31, 2023, in a blog post, Kraken announced that it had secured the 16th position in Newsweek’s list of the 100 World’s Best Places to Work. Notably, they were the only crypto company listed, which according to the company aligns with their focus on prioritizing the well-being of employees.
The Newsweek rankings are based on survey findings from over 2 million employees across various companies and sectors of varying sizes. According to Kraken’s Chief People Officer Pranesh Anthapur, Krakenites value autonomy and flexibility in return. He explained that Kraken is proud to inform the world that its unique company culture is helping Krakenites love their work and achieve outstanding results.
Anthapur also explained that they provide employees with opportunities for career growth, learning, and health benefits, such as an in-house fitness plan and health awareness.
Crypto exchanges came under severe regulatory pressure following the FTX crisis in 2022. Kraken has reassured its users of its ongoing commitment to cutting-edge security research.
Kraken announced the completion of SOC 2, Type 1 compliance testing on May 23, 2023. SOC 2, Type 1, is an independent external auditor review focused on the security and availability of systems and data within an organization.
This audit ensures that an exchange takes necessary steps to protect user data and funds. The American Institute of Certified Public Accountants (AICPA) has established this compliance standard.
The AICPA’s Trust Services Criteria has five categories: security, availability, processing integrity, confidentiality, and privacy. Completion of SOC 2 means that Kraken meets the highest financial requirements, security measures and controls.