The Kraken trading website for bitcoin, the popular cryptocurrency that’s also known as bitcoin cash, has shut down as investors flee the site.
According to the CoinDesk article, the trading site is now in a holding pattern due to the volatility in bitcoin.
The article noted that the trading club was launched on July 18.
The trading club features a forum and an exchange where members can trade bitcoin for bitcoin cash.
Kraken is one of the largest bitcoin exchanges and is known for its high trading volumes.
The CoinDesk report added that traders can use Kraken’s trading account to exchange bitcoin for other currencies and services.
However, some investors are reportedly trying to get back into bitcoin trading after the closure of the trading website.
A Reddit user who goes by the handle of MrPumpkin posted an article on the BitcoinTalk subreddit that said he had lost $100,000 worth of bitcoin during a trading session in December.
According the article, MrPumperkin had bought about $100 worth of bitcoins from the trading platform, and had traded the coins on the exchange.
The user said he would be interested in trading on Kraken again after the site’s closure, but that the website had been “slow to implement a feature that would allow me to trade in bitcoin on Kraken.”
MrPumpkins account was eventually reopened on July 24.
The Reddit user said that the price of bitcoin was “still way below $100” in November, but was higher than it had been for about six months.
Kraken said that it is investigating the cause of the issue and will “take whatever action is necessary to protect the safety of our customers.”
The company said it has received more than 1,300 complaints about the issue so far.
The company added that it has “seen an increase in bitcoin trading volume over the past two months, and we’re working to ensure it continues to stay stable.”