Change of cryptocurrency in the US Kraken has warned users of the perceived risk of exchanging the new bitcoin cash token, Bitcoin SV (BCH SV) – one of the two competing versions of the cryptocurrency created when the blockchain split during the period. last week update.
Kraken He said in a Sunday blog post that, while credited BCH SV token to its customers by the fork and also launched SV trading, the new crypt "does not meet the usual Kraken requirements" and "should be seen as an extremely high level investment at risk. "
The exchange highlighted a number of "red flags" for traders, including that there are not yet any portfolios that support protection against reproduction – a way to prevent a transaction from occurring simultaneously on both BCH blockchains.
In addition, he said, the offer is "temporarily limited" due to limited portfolio support, while miners appear to operate at a loss. Furthermore, the future existence of BCH SV could be "mutually exclusive" with other blockchains because its representatives are "threatening" and "openly hostile" to other blockchains.
Kraken also said that some of the main token keepers have already suggested that they would "download" the token as soon as they could
The splitting of the cash bitcoin blockchain took place November 15, when two of the various versions of the code that pushed various technical roadmaps found sufficient support from the miners. This resulted in two new tokens: Bitcoin ABC (BCH ABC) and BCH SV.
Before the division, Kraken had announced that would have supported only BCH ABC, but in the last post, the exchange said that, after all, it is supporting BCH SV following the publication of a protocol and a roadmap of nChain, the company that leads the development of the SV implementation.
Kraken also indicated that he could recover his losses from certain problems with the new SV user token, saying:
"The capital losses suffered as a result of attacks from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and the threats that have been made, Kraken can not guarantee the perfect BSV custody . "
The exchange is currently monitoring both networks and will not open deposits or withdrawals for both tokens until it feels "safe to do so".
According to CoinMarketCap data, the BCH SV token was traded in the $ 70- $ 138 range from the fork, and is currently around $ 88. BCH ABC has traded largely between $ 250 and $ 300 sat the time of splitting and is currently trading around $ 233.
Image of Jesse Powell by consensus