Kraken Starts Forced Sales of 7 Delisted Tokens with Uncertain Proceeds

Global cryptocurrency exchange Kraken has started automatically selling remaining user assets in seven delisted tokens. The move is part of an exchange-led liquidation process, with users unable to withdraw or dispose of the assets themselves.

The affected tokens are PLANCK, AIR, MICHI, FLY, ANLOG, TERM, and STRD. Kraken ended withdrawals for these assets on July 31 and has now started selling remaining spot balances from August 3 through August 7, depending on market conditions.

Kraken previously announced the delisting of these tokens in April and halted trading and deposits from May 1. The exchange warned that automatic sales could execute at prices far below recently displayed prices, potentially leaving users with little or no proceeds from the sale.