April 27, 2023
 min read

Northstake removes Algorand (ALGO) staking from its services

Thomas V. Daugaard

Over the last 2 months, the Algorand blockchain has been experiencing several severe hacks and compromises. In connection with these hacks and compromises, multiple assets have disappeared from several wallets.

Additionally, in the Securities and Exchange Commission’s (SEC) recent lawsuit against crypto exchange Bittrex, the SEC named Algorand an unregistered security.

As a result of these events, Northstake has made the decision to remove Algorand staking from its services to ensure the safety of our client’s funds.

We take the security of our clients’ assets very seriously, and we believe that this is the best course of action at this time.

Northstake will continue to provide staking services for other high-quality blockchain assets, and we remain committed to providing our clients with secure and reliable staking options.

We thank our clients for their continued support, and we will continue to maintain the highest standards of security and reliability.

For further inquiries, please contact us at info@northstake.dk