Kraken has officially halted trading and deposits for 13 cryptocurrency tokens, marking the start of a withdrawal phase for affected users. The exchange's October delistings, announced earlier, saw trading for assets like BMB, ELX, APU, and others end on October 23 at 14:00 UTC. Customers now have until January 29, 2027, at 15:00 UTC to withdraw their remaining tokens before Kraken begins liquidating any leftover balances.
The liquidation period is scheduled for February 1-12, 2027, during which any unwithdrawn tokens will be sold off. Kraken has warned that the proceeds from these liquidations may be significantly lower than recent market prices, potentially even negligible or zero, due to thin or inactive markets.
The exchange emphasized that the ability to withdraw tokens does not guarantee they can be traded elsewhere. Users must ensure their destination wallets or exchanges support the specific token and network. Kraken's notice also clarified that a displayed reference price does not guarantee the liquidation value, as actual proceeds depend on market demand at the time of execution.
This development highlights the importance of proactive management for crypto investors, as the operational transition resembles other exchange closures, such as Binance Pool's announced shutdown. Moving tokens to personal custody shifts responsibilities, requiring users to manage possession, recovery, and trading access independently.