The cryptocurrency exchange Kraken denied the closure of the service rumor

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CoinDesk According to reports, the US-based encryption currency exchange Kraken denied media speculation that closed social services rumor, claiming that the company only temporarily because of security issues Close up of a service center.

The Reddit user “throwaway34034324” posted a post on Thursday, claiming that the Kraken Exchange is closing Halifax’s business in Canada and “has just fired hundreds of people in response to the government’s penalties for security breaches.”

Another user, apparently a staff member of the Halifax office, “Mysterious Plankton” commented that they were asked to voluntarily resign and accept eight weeks of salary as a “severance payment” or they would be dismissed directly.

The user added:

“There are security issues everywhere. Because of the decline in transaction volume and the recent establishment of the Asian office, we were told that we need to reduce costs, even if we recently dismissed people (about 57 people in 3 months).”

The user also pointed out that the affected staff also included those who were aware of customer/anti-money laundering procedures, security and investigations, and deposit and withdrawal processing.

They said, “The layoffs cover almost every aspect of their business.”

Although Kraken has not issued any formal statements to resolve this issue, its customer support department replied at least two queries on Twitter, denying most of the allegations.

“We can confirm that we have not closed any operations in any particular location and that there are no security holes. Everything is fine and secure,” the transaction said.

As of press time, Kraken did not respond to CoinDesk’s investigation into alleged employee layoffs.

Business Insider reported in February that the San Francisco-based exchange plans to increase the total manpower by 800 in 2018. However, according to CoinDesk’s previous report, “Because of the cost and resources required to maintain services in Japan,” Kraken has decided to cut off services to Japanese investors.

This article is writing on 07 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: Or Whatsapp Us- +13098896258


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