What is happening
Kraken is automatically liquidating remaining balances in 21 delisted assets between September 1 and September 5 based on prevailing market conditions.
The affected list includes AURA, BIT, BOND, BSX, FARM, GARI, K, KET, KINTO, LOBO, MOON, MV, NYM, RAIIN, RHEA, SAROS, SDN, SPC, SPICE, TEA and TEER.
How the risk escalated
The delisting lifecycle removed user options in stages:
Trading/deposits disabled → withdrawals disabled → forced liquidation
Once withdrawals closed, users lost the ability to move assets to self-custody or another venue before liquidation.
Why execution can be poor
Kraken explicitly warns that several affected assets have limited or inactive markets.
Liquidation prices may therefore be significantly below recent reference prices. In cases of severe illiquidity, proceeds may be minimal or effectively zero.
TEER
Kraken separately says TEER has ceased operations and on-chain transactions will not go through.
TEER therefore combines underlying project operational failure with exchange-level liquidation risk.
What this does not mean
This is a disclosed delisting process, not evidence that Kraken is insolvent.
CEXVia separates Kraken-specific access/execution risk from the underlying project risk of each asset.
Evidence Status
Confirmed: 21-asset list, withdrawal closure, September 1–5 liquidation window, prevailing-market execution, thin-market warning and TEER status.
Unknown: affected customer count, residual value, average realized discount and exact execution time per asset.
Risk Assessment
High for customers with residual balances.
What to Watch Next
Completion of liquidation; realized prices; near-zero proceeds; TEER treatment; support disputes; future delisting cycles.
FAQ
Can users still withdraw these assets?
No. The normal withdrawal window has closed.
Why might proceeds be low?
Kraken says some affected markets are limited or inactive.
Is Kraken insolvent?
No. This is a scheduled delisting/liquidation process.
Does every delisted token have a security problem?
No. Delisting can reflect liquidity, performance, compliance or other exchange criteria.