Kraken down again!
Stemmers,
i wanted to access my funds on kraken and i just discover that is down again!
Kraken, one of the largest Bitcoin Exchange is down for hours. It began this morning when the total of the balances showed to less because the interface to the exchange rate has failed. The company wraps itself in silence.Since the company is not reacting on any channel, many people upload screenshots on Twitter with their failing attempt to access to their account. Some of them can login but withdrawing is deactived. From the perspective of Kraken we can expect the possibility to take away your fiat money or coins will not be allowed to prevent a large deduction of the funds.What really happens right now might not weven know the support staff if they are not on the run anyway but these are most expressed assumptions:
- The company has run out of licenses for sessions
- Kraken is under DDOS attack
- The current performane of coin trading has taken too many users attracted
- The company is under attack of the FBI
From my point of view I assume point 1 and 3 are realistic to be true. Further more I guess they are using technologies that not scale enough. Many hope the platform will be back as soon as possible.The crisis communication of the company is valueless. No matter how it goes out, the damage for Kraken will be huge.
In details i tryout out those features: What works on it and not?
- login: NO (fancy cloudfare, automatic logout, or this brand new 404 page)
- fast UI: NO (browsing through different pages takes about 5-30 seconds)
- withdrawals: NO (refresh 15 times to get to page without error, ignore 'Level 3' or 'feature disabled' errors)
- executing orders: NO (either it executes too late or not at all; bonus feature is that it 'maybe' executed)
- margin funding: NO (most of the time error that not enough margin available
- ticker: NO (incorrect price is given, but who cares about numbers, anyway? /s)
- ticker (bis): NO (people getting liquidated because price is wrong and P&L is calculated incorrectly)
- orderbook: NO (there is a crossover between sell/bid side)
- stop-losses: NO (even when you are sleeping at night, kraken screws you)
- registration: NO (people are waiting for months to get verified)
- Paying fees and making /u/jespow richer every day (apparently no money is to be used for improving the infrastructure or trade engine)
- Giving repeatedly false and vague promises (we hear already more than 1 year that the engine will be improved)
Is crazy right?
Although i have my hard wallet i don't really understand why is this great exchange crashed twice in those couple of days!
Which exchange do you think is more secure?
happy steeming everyone,
Francesco
You better copy paste it from my article a bit later after I fixed some typers ;-)
right @iostatus! sorry about that! i found very interesting what you wrote and wanted to add some more stuff. I am very sad for kraken right now and hope they will fix all asap! thanks for it though!
I wonder if bitshares is the best since it's decentralized :/
you are actively using it since when? is it consistent?
It doesn't have too many currencies there but I did register. From what I know it is a decentralized exchanged created by the same guy that crated steemit and EOS. So my guess is that it will be safer but I don't actively trade anymore.