Kraken delisted tokens face liquidation, users could get $0

Kraken’s delisted tokens that were left on the exchange face automatic liquidation beginning Aug. 3 after withdrawals closed for affected clients. Any PLANCK, AIR, MICHI, FLY, ANLOG, TERM or STRD balance is due to be sold during a five-day window that runs through Aug. 7, according to Kraken’s published schedule.

This is a disposal of residual spot balances, not leveraged positions or margin calls. Clients can no longer move the affected assets off Kraken because the withdrawal cutoff passed at 14:00 UTC on July 31. Kraken says it will liquidate the balances automatically based on prevailing market conditions.

Kraken published the delisting notice in April as part of a staged wind-down. Trading and deposits for the seven assets were disabled at 14:00 UTC on May 1, followed by the withdrawal cutoff three months later. The Kraken delisted tokens are now in the final scheduled stage, with liquidation set for Aug. 3-7.

Kraken warned that several of the assets have limited or inactive markets. Liquidation prices may therefore be significantly below recent reference prices, and insufficient liquidity could leave some balances with minimal or no proceeds. The warning is conditional: Kraken did not say every affected asset or client will receive nothing.

An Aug. 2 CoinGecko snapshot for PLANCK illustrates the constraint in one market sample. It showed roughly $591 of 24-hour volume and about $21 of displayed depth on either side within 2% on the active Uniswap V3 BNB Chain pool. CoinGecko’s second tracked pool showed about $2 of volume, roughly $247 of displayed depth on either side, and an inactive label. These time-sensitive figures measure neither Kraken’s undisclosed execution venue nor all global PLANCK liquidity.

The notices say the process covers clients with any remaining balance in the seven named assets, but they do not set out a minimum or dust threshold or name particular affected jurisdictions. Kraken also has not said where it will execute the sales, how it will sequence assets or accounts, or whether separate fees and spreads will apply. Its status notice says the denomination of proceeds will depend on prevailing market conditions and cannot be guaranteed or confirmed beforehand.

With withdrawals closed under the published delisting schedule, affected clients now face an exchange-run conversion rather than a self-directed exit. The schedule fixes the Aug. 3-7 window, but the amount and currency returned will not be known until Kraken executes the residual-balance sales.