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Kraken To Suspend Plaid Withdrawals and Deposits via ACH Silvergate

Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate.

Kraken has reportedly notified its users that it will be unable to support ACH deposits and withdrawals starting from March 27. According to multiple online reports by alleged Kraken users, Kraken sent an email notice with the announcement on March 22.

In the statement, Kraken specified that users will no longer see a deposit option via Plaid or withdrawal option via ACH Silvergate beginning March 27. “No other services will be affected by this change, including ACH instant purchases via Online Banking,” the firm noted.

Kraken has advised users to take a look at the other available funding options in order to ensure uninterrupted funding experience, including MVB Bank for Fedwire deposits and withdrawals as well as other instant purchase options.

(By HELEN PARTZ)

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