Kraken Warn of Downtime Tomorrow Afternoon

Kraken Warn of Downtime Tomorrow Afternoon

Users of Kraken have been informed that for tomorrow there may be an interruption in traders service in order to complete an upgrade to the platform.

As a result of this upgrade, at 16:00 UTC for approximately 1 hour the system will be out of action. However, this should be a minor convenience during which all spot exchange services, which includes funding, trading and account access, will be temporarily disabled. If you holding margin positions, then these will not be closed or liquidated during the period of the upgrade.

If you are participating in futures trading during this time on Kraken though, you are largely unaffected by the update. With this being able to carry on uninterrupted but futures traders have been made aware that they can contact the Kraken support team for further details about how this works exactly.

It has been noted that the upgrade, which is for the greater good as it focuses on the improvement of security systems in place on the platform, users might become aware of some changes to the interface. Price and order books may be different, and unexpected volatility or illiquidity may also exist, but Margin positions will close or liquidate as they typically do.

To avoid any nasty surprises, when the update is complete, traders have been advised to use order limits to avoid trades being executed at an unexpected price. You should also collateralise your account properly and if needs be, close your positions before the before upgrade to avoid unwanted liquidations that might come from these price changes.

Once the upgrade has been completed, then all the deposits will be processed in the order they were submitted. Following on from this, then withdrawals will be resumed. After this, the functions will all be back in full form but just with additional security in place.

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