Latest Kraken update “Orchid (OXT) Trading and Ethereum USDT Funding Start June 2”

Didn’t Kraken took the liberty to distribute MtGox bitcoins back to its owner that loss a bunch of Bitcoin that got hacked? back on when Bitcoin was $600 to $700?

“n 19 June 2011, a security breach of the Mt. Gox bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. … Gox still had control of the coins, the move of 424,242 bitcoins from “cold storage” to a Mt.”

Who stole Mt Gox Bitcoins?
Alexander Vinnik
Gox had been hacked by an outsider who had siphoned off more than 600,000 bitcoins in a period between 2011 and late 2013. It was able to trace the bulk of stolen bitcoins to one individual, a Russian bitcoin exchange operator named Alexander Vinnik. On July 25, 2017, U.S. authorities had Vinnik detained in Greece.

On Monday, June 1, 2020, 10:57:42 AM EDT, Kraken <[email protected]> wrote:

Hi ,

We are pleased to announce a new asset listing and a new funding option, both going live at approximately 13:30 UTC on June 2.

Orchid (OXT) Trading

What is Orchid (OXT)?

Orchid aims to incentivize a distributed network of computers to provide an alternative to traditional virtual private network (VPN) services.

To accomplish this, Orchid uses a new cryptocurrency, OXT, which allows users to buy bandwidth, and that bandwidth providers need to purchase and stake to power the network.

With OXT, you can:

Pay anonymously for only the bandwidth you use. Monthly fees and personal payment information is not required.

Easily change providers. If you want to switch to a different VPN provider, a quick tap will get you randomly reassigned to a new one.

Share your account. Orchid works across an unlimited number of devices.

Project website:

Please note that you will not be able to stake OXT through Kraken at launch.

What time will funding and trading start?

Funding: Kraken will enable deposits and withdrawals for OXT at approximately 13:30 UTC on June 2.

Trading: The first trades will start shortly after funding is enabled as sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here). The initial trading minimum will be 50 OXT.

Updates will be posted on the status page near launch time.

To learn more about the listing, read our full blog post.

Support for Ethereum USDT

Kraken is now supporting deposits and withdrawals of USDT on Ethereum.

First launched as an asset on Bitcoin, Ethereum has quickly become the most popular option for users seeking to hold value in USDT, a crypto asset that tracks the price of the U.S. dollar.

Since traders typically deposit USDT for the purpose of trading other assets, we expect to see a boost in volumes across many of our markets, providing new opportunities for clients.

Note: We will still be accepting USDT deposits on Bitcoin’s Omni layer (USDT-OMNI). For more details about our new Ethereum USDT funding option, see our blog post.

Thank you for choosing Kraken, the trusted and secure digital asset exchange.

The Kraken Team

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