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Kraken allegedly firing employees in hundreds, Halifax and Dartmouth become the target locations

Priyamvada Singh

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Kraken allegedly firing employees in hundreds, Halifax and Dartmouth become the target locations
Source: Pixabay

On 5th September, a well-known cryptocurrency exchange Kraken in Halifax, Canada attracted the controversy regarding the firm firing its employees in a large number at once. Unit 102 at 60 Highfield park drive relieved its employees in hundreds, a Redditor alleged. The user also wrote on the social media platform that Kraken did this in response to a security breach.

The Reddit discussion post also read:

“[…] a giant commotion happening up there and private security all over the place escorting people off the premises after making them sign voluntary quit forms was anyone here one of those people?”

This ignited an argument in the forum wherein multiple users shared their opinions. One of the users named Spaceforcemuffins stated that the alleged activity of Kraken firing its employees is not illegal. Despite this, the user also wrote that the Kraken office in Highfield is a new location for the company.

Furthermore, Kraken had reportedly installed security programs on its employees’ cell phones to keep them under surveillance in case of any institution of anti-company activities, stated Spacforcemuffin. Here, the Redditor also added:

“Furthermore, I was told they generate in the millions of dollars daily, how can they go under? Diversify your bonds people.”

The discussion moved ahead when ItsSignalNotSpyware, a Reddit handle got involved and implied that the security tool installed by Kraken on the cell phones is Signal. The handle also explained that the application encrypts the calls and texts that go through the app. Another joiner to the forum further confirmed the encryption feature of the app, claiming to have used it for several years.

On Twitter, a user named Sean Hartt took to the platform to confirm the rumored shutdown of Kraken in Halifax. He asked about the updates on the closure of the exchange and security forcing the staff out. Here, the Twitter handle of Kraken Support replied:



“Hey Sean! // We can confirm that we are not shutting down any operations in any specific place, and there has been no security breach. Everything is fine & secure.”

In addition with the rumors carrying events at the Highfield location, a Twitter user by the name I AM THE KRAKEN also alleged that several employees were escorted into cabs by the Kraken security at the Dartmouth location as well.

Recently, another Bitcoin ETF was rejected by the US Securities and Exchanges Commission [SEC] wherein it gave multiple reasons for the decision. Here, Kraken was one of the mentioned causes for the SEC’s disapproval.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Altcoins

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





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