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"Kraken to Suspend ACH Deposits and Withdrawals Following Silvergate Shutdown"

2023-03-22 [vendor] Kraken to suspend ACH transfers after Silvergate
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Incident Details

The Kraken cryptocurrency exchange announced to its users that it will be suspending ACH transfers on March 27, as a result of the collapse of its banking partner, Silvergate. Based on their communications, it sounds like they have been unsuccessful in finding a new banking provider since Silvergate’s March 8 collapse, which will impact customers’ abilities to perform bank transfers to and from the exchange.

Technical Details

Vendor / Product
Kraken to suspend ACH transfers after Silvergate

Timeline

  1. 2023-03-22 Breach occurred
  2. 2023-03-22 Publicly disclosed