If you are holding VANRY at Kraken, you can currently neither sell nor withdraw the token there. Both VANRY trading pairs are set to “cancel only”, and withdrawals are blocked. Kraken has sch
If you are holding VANRY at Kraken, you can currently neither sell nor withdraw the token there. Both VANRY trading pairs are set to “cancel only”, and withdrawals are blocked. Kraken has scheduled that block to run until December 10, 2026, 15:05 UTC. The withdrawal deadline of the delisting falls on the same day at 15:00 UTC. The block therefore ends five minutes after the deadline you would have to meet to stop your balance being sold off.
That makes every instruction you have read about this delisting unworkable for VANRY: selling is impossible, withdrawing is impossible, and doing nothing leads into forced liquidation. What remains is the paper trail. This piece shows how the three dates fit together, why the block does not originate with Kraken, what the Base token has to do with your balance, and which records you should set up now so that a loss in December can be evidenced at all.
“Cancel only” is a trading state that exchanges set ahead of a delisting. It means existing orders can only be cancelled and new ones can no longer be placed. For VANRY this applies at Kraken in both the euro and the dollar pair. Both pairs are in that state on October 4, the last quoted price in the euro pair stands at zero, and turnover over the past 24 hours is zero as well. A sale there is not merely unattractive, it is technically ruled out.
That is not an isolated case at Kraken but a pattern running through the entire delisting cycle. How many trading pairs sit in that state there at the same time, and how to spot it for your own coin, we broke down at the end of September in a separate piece on blocked trading pairs at Kraken. For VANRY a second block now comes on top, and it is the more expensive of the two.
Kraken announced the delisting in August and names three cut-off dates in its notice for 21 assets, VANRY among them. Deposits and trading were switched off on September 11, 2026 at 14:00 UTC. Withdrawals close on December 10, 2026 at 15:00 UTC. Remaining balances will be liquidated automatically between December 14 and December 18, 2026. Besides VANRY this affects XTER, IR, GAIA, SCA, BNC, SBR, RBC, MIR, JUNO, HDX, ACA, MULTI, RIZE, EPT, MAT, CQT, CXT, BKS, VULT and M.
The exchange's instruction to its customers is worded unambiguously in this Kraken delisting notice: anyone wanting to keep their assets should withdraw them before December 10. We already set out the deadlines and the affected assets at the beginning of September, when only the trading halt was tangible; that overview sits in our piece on Kraken delisting 21 tokens. What was not foreseeable then: for one of those 21 assets, the instruction to withdraw leads nowhere.
In practical terms that means the reliability of a trading venue only shows itself in what happens when a project switches off its contracts. Which houses in Germany operate under which supervision, and how they are set up for deposits and withdrawals, is shown by our crypto exchange comparison. For your VANRY balance, the choice of exchange changes nothing retroactively; for the next small-cap it very much does.
Kraken keeps a separate status entry on VANRY titled “VANRY withdrawals on Ethereum blockchain halted”. The entry has been running since September 24 and carries December 10, 2026, 15:05 UTC as its end point. The withdrawal deadline of the delisting sits five minutes before that. As long as nothing about that scheduling changes, there is no moment in the whole window up to the deadline at which withdrawals would be open and a transfer out therefore possible.
Kraken supplies the reason itself: the VANRY team has halted all transfers on the chain, and as long as those transfers are dormant, withdrawals at Kraken remain unavailable. You can read the entry on Kraken's status page. Important for context: the block is a consequence of the chain side, not a decision by the exchange against its customers. That makes it no less effective, but it shifts the question of whom you need to address.
The chain in question is Ethereum, where the old VANRY contract sits. Anyone holding the token there holds it in a version that can no longer be moved.
The transfers are dormant: the block at Kraken follows from the paused contracts, not from a decision by the trading venue.
The origin lies with the project. Vanar moved its token to the Base chain in August and September 2026. The swap window opened on August 11 and closed on September 10, 2026 at 13:00 UTC. In mid-September the project confirmed that the VANRY contracts on Ethereum and Polygon are paused and that trading runs exclusively via Base. The project's own chain, on which VANRY originally ran, began winding down on September 18, 2026; staking for that chain's validators was discontinued.
This sequence is the core of the problem. The swap window was already shut before the withdrawal deadlines of the large trading venues were reached. We described that gap in August, when it was still a matter of weeks on a calculator and not a block; the timeline sits in our piece on the VANRY migration to Base. By now the gap has turned into a closed route.
Since the migration there are two VANRYs, and for your valuation that is decisive. CoinGecko lists two separate data sets: “Vanar” for the new token on Base and “Vanar Chain [OLD]” for the old version. The old data set shows a market capitalisation of zero on October 4, a price of $0.00034199, turnover of around $28 in 24 hours and exactly one recorded trading venue. The new token trades at $0.00068289, carries a market capitalisation of some $2.59 million and daily turnover of around $1.31 million.
That means: what sits in your account at Kraken is the dormant version. On that reading, this version is worth roughly half as much as the token traded on Base, and it has practically no market. An exchange does not credit you the new token automatically if it does not support the swap. Binance stated explicitly in its delisting notice that it would not accompany the swap plan and referred users to the project's own portal. For Kraken, a credit of the Base token has not been announced anywhere.
A second data set under the same ticker is not a cosmetic flaw in a database. It is the reason why a price you read somewhere need not be the price of your balance. Anyone estimating the value of their holding should therefore check which of the two data sets the display refers to.
Kraken names the consequence itself, and unusually plainly. The delisting notice states that several of the affected assets have limited or inactive markets, which is why the proceeds of a liquidation could fall well below the last reference prices and in some cases will be “minimal or nil”. That wording comes from the exchange, not from us, and it is a warning, not a forecast.
Set beside the turnover figure of the old data set, what it means in practice becomes tangible: with daily turnover in the region of a few dozen dollars and a single recorded trading venue, there is no buyer for larger quantities who would pay a price anywhere near the display. The proceeds of a forced sale then depend not on the price but on whether anybody buys at all.
For the order of your steps, something uncomfortable but clear follows: you should not plan on good liquidation proceeds. Plan on a record with which you can claim the loss for tax purposes, and treat any proceeds as a bonus.
What remains is the filing: units, dates and price source will later decide whether a loss is recognised.
A loss you cannot evidence does not exist for the tax office. And unlike a normal sale, a forced liquidation does not hand you a statement you can choose for yourself. That is why the documentation belongs in place now, not in December.
Five items belong in it: the number of units in your VANRY holding together with the date on which you established it; the acquisition date and acquisition price of every purchase; evidence that trading and withdrawals were blocked, meaning a dated record of the trading state and of the status entry; the exchange's notice with the three cut-off dates; and finally the liquidation statement, once it is available. An account statement from the exchange, saved as a file, usually covers the first two points.
Anyone who does not want to keep this by hand can run it through a tax tool that carries acquisition dates and holding periods per position and still shows a holding even once the exchange removes it from the display. Which providers map German acquisition data and holding periods we have put together in our comparison of crypto tax tools. What matters is less the provider than the timing: after the liquidation, a holding the exchange no longer displays can no longer be reconstructed.
A forced sale by the exchange is a sale for tax purposes. For private investors in Germany, gains and losses from the sale of crypto assets fall under private disposals pursuant to section 23 of the Income Tax Act. The decisive element there is the one-year rule: if more than twelve months lie between acquisition and disposal, the result is disregarded, and that includes a loss.
From this follows a quirk that is often overlooked on long-standing positions. If you bought VANRY more than a year ago, a loss from the December liquidation is as a rule not usable for tax purposes, because the position has passed the holding period. If the purchase was less than a year ago, the loss counts within private disposals and can be offset there against gains in the same year; whatever remains goes into the loss carry-forward. Losses from this category do not travel into offsetting against shares or interest.
Because what counts here is the individual acquisition date and not the total holding, the schedule per purchase is the actual work. That is the point at which clean filing can decide over several hundred euros. Binding advice on your own case comes only from a tax adviser, not from an article.
The second route open to you is a request to the exchange's support. That is neither automatic nor a commitment, but it costs nothing and creates a dated record that later forms part of your evidence. Word it narrowly and factually: name the asset entry, the number of units, the reference to the exchange's own status entry on the blocked withdrawal, and the question whether and how the exchange credits the migrated Base token for legacy holdings, or whether it will liquidate the holding in December.
Two points raise the chance of a usable answer. First, the deadline: point out that under the exchange's own schedule the transfer halt ends only after the withdrawal deadline, and ask for a statement on how customers are supposed to fulfil the instruction to withdraw within that window. Second, the form: ask for a written answer in the ticket and save it as a file. A verbal assurance will not help you in December.
If a withdrawal is still possible at another house, because a different network or a different schedule applies there, checking the alternative routes is worthwhile. How thin those routes are in practice for delisted small-caps we already counted up for the same Kraken basket back in August.
The same question hits a second group considerably earlier. Binance removed VANRY from spot trading on August 17, 2026 and announced in its delisting notice that it would no longer support withdrawals of the token after October 17, 2026, 03:00 UTC. From October 18, delisted assets can be converted into stablecoins there, although the house expressly does not guarantee that conversion.
The wording on the chain is notable. Binance undertook to keep withdrawals via Ethereum and Polygon open until the project team had completed the migration. Those two contracts are precisely the ones now paused. Anyone holding VANRY at Binance should therefore not count on the withdrawal working reliably up to October 17, and should establish that for themselves promptly. The deadline there sits roughly two months ahead of Kraken's, on the same starting position on the chain.
That a withdrawal deadline and a swap window do not match up at VANRY is not a new pattern: for the swap via KuCoin the arithmetic ran similarly tight in August, as we worked through at the time for the KuCoin withdrawal deadline.
One piece of context belongs here, because it governs your expectations. Kraken words the block conditionally: withdrawals remain unavailable as long as transfers on the chain are dormant. If Vanar lifts the pause on the legacy contracts, or if Kraken decides to credit the Base token for legacy holdings, the route opens again. Neither has been announced anywhere reachable, but on the wording both are possible.
From this it follows that your balance is not definitively lost as things stand today. What is evidenced is something narrower, namely that the way out is shut today and scheduled to stay shut until after the cut-off date. Anyone who looks into the status entry and the exchange account once a month over the coming weeks will catch an opening if it comes. Anyone who counts on it coming is acting without a basis.
For investors in Germany there is a lesson in this episode that reaches beyond VANRY. A licence under the European regulation on markets in crypto-assets governs how a provider is supervised, which information it has to give and how it segregates client assets. Such a licence does not oblige it to keep a token withdrawable whose contract the project itself has halted. What duties the regulation actually imposes on providers is set out in our overview of the MiCA duties for crypto companies.
The risk materialising here is not a regulatory risk but a project risk that passes through the exchange onto you. It hits small assets with few trading venues hardest, because there a single decision by the team suffices to close every route at once. Anyone holding such positions should look less at the price when sizing them than at the number of mutually independent routes that lead out of them.
And one more observation from the calendar: at Kraken, roughly three months lie between the announcement of a delisting and the withdrawal deadline. That is plenty of time if you use it. It is no time at all if the block comes from the project and the swap window was already shut before the deadline even began.
The starting position is uncomfortable and nevertheless workable. You cannot move the token, but you can make sure the loss is evidenced, that a request is on file, and that the same thing does not happen to you again with the next small-cap.
(As of October 4, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)
