Kraken latest notice “Action required: generate new deposit addresses before your next XBT or USDT deposit”
Sent: Thursday, October 26, 2017 2:05 PM
Subject: Action required: generate new deposit addresses before your next XBT or USDT deposit
Before making your next bitcoin (XBT) or tether (USDT) deposit you must create new deposit addresses. Please do this as soon as possible – as of October 30 deposits sent to old XBT or USDT addresses will be delayed and may be charged an extra service fee.
Why do I need new deposit addresses?
As part of an upgrade to our wallet infrastructure, we are phasing out our integration with BitGo. This is not in any way motivated by a concern over the quality of BitGo’s service. We are simply moving bitcoin (and tether) to an alternative system that provides similar security benefits with multi-party signing. Migrating bitcoin to the alternative wallet system will help make our infrastructure more unified and easier to manage. Please note that “BitGo Instant” withdrawals will no longer be supported as of October 30.
What if I send bitcoin (XBT) or tether (USDT) to an old deposit address?
Old XBT and USDT deposit addresses are set to expire on October 30
Before October 30 old addresses will work normally. After the addresses expire deposits will still be credited but will be delayed and may be charged an extra service fee as follows.
Expired XBT addresses starting with “1” – no service fee
Expired XBT addresses starting with “3” – 0.25% service fee
Expired USDT addresses – 0.25% service fee
Note that the service fees above apply only to deposits sent to the old XBT and USDT deposit addresses after they expire on October 30.
Do I need to generate new addresses for anything other than XBT and USDT?
No – only bitcoin (XBT) and tether (USDT) are affected by the upgrade.
How do I generate the new addresses?
The new addresses are generated in the usual way.
Log into your Kraken account
Navigate to Funding > Deposit > XBT (or USDT)
Click “Generate New Address”
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