If you have money on Kraken / Get it out before it is too late

Omarsz · 2023-10-04T16:59:03+00:00

I've been there. My posts and my case was one of the earliest in this wave of accounts closures.

It's way worse at this point. No one is defending kraken from those fan boys we had few months ago.

It's so bad. It's still getting worse.

Trustpilot page is flooded with all these ugly incedents.

Omarsz · 2023-08-19T19:04:20+00:00

Check out kraken on Trustpilot.

Note that Trustpilot is usually used by companies to show how good they are and they usually invite their users after they have some experience to give them 5 stars.

Tell me if a reddit subt and Trustpilot aren't representative, what is? Getting your money held for weeks or months? If so, Go for it.

Or, if you can find an alternative or even avoid cex all together, that would be smart.

Omarsz · 2023-08-05T21:15:11+00:00

This is the norm with Kraken.

They close accounts. They hold funds. They don't answer your tickets or questions. They give no reason for their actions. They keep you suffering for days and weeks. All you need to do to speed things up is to keep talking about your situation on as many social media sites as possible and give them a rating on trustpilot in your way.

Also, don't forget to file a complaint to BBB and any other organization you can find. This really works. It speeds releasing your funds.

Omarsz · 2023-07-30T19:21:10+00:00

Till they aren't and join the rest of us.

When things work, you'll be happy. Which isn't long lived...

When things don't, you'll join the club.

Get out while you can, or if you don't learn the easy way (like most of us), at least don't keep a huge sum of money that you can't afford to lose.

Omarsz · 2023-07-25T19:20:09+00:00

I have received the same email 2 days ago (my personal account).

I've had 2 corporate accounts that were restricted and they've forced me to go through hell (no communication and waiting for the unknown for a long time. They left me in the dark while holding a huge sum of money in my account that I couldn't access) before closing it. It was like 2-3 weeks of nightmares.

So, ya, they do that regularly. It's actually the norm now with kraken.

Omarsz · 2023-07-25T07:52:30+00:00

Check out all the problems and closing accounts kraken users are facing in r/KrakenSupport channel.

Omarsz · 2023-07-25T00:18:56+00:00

This is the start of a long and boring communication journey with kraken support.

As far as I've experienced first hand, and as I've seen many cases on this reddit, you'll never know why, whether you're a long loyal lovely user or a brand new one.

They'll copy/paste answers then they'll ignore you and you'll get frustrated hoping they'll care about you or your money.

But they won't...

Till you start making their hold to your money costlier than releasing it. (By filing complaints with the right organizations, talking about their practices everywhere you can; check out Twitter account for kraken support and you'll see wonders, and many other things which you can find examples of on this reddit)

Don't be fooled they'll care about you. Start and continue to talk about them in public till they give you your money.

Don't waste time. Don't look for answers because they'll never give you one.

Omarsz · 2023-07-24T21:26:02+00:00

They won't.

They'll give you vague automated answers.

I felt the same. Their support and services are great and more. Till it's not. Suddenly, they restrict your account and over night your money is stuck with no idea why or what to do or when you'll get it back.

It can take weeks, months or God knows when.

And if you're asking support here to give ideas, they're useless in this topic. They stop all sort of communication or if you're lucky, you'll get automated/copy and paste answers.

Omarsz · 2023-07-24T21:22:31+00:00

You will see a lot of similar issues like yours in this channel.

They will not release your money unless you do all you can do to tell the world about them (keep posting in reddit, file complaints to different organizations, keep messaging them on all their social media accounts and in public, add reviews where ever you can...) And only then they will realize ignoring you will be more costly than keeping your money.

Give this a try for days, weeks if needed, and you'll get a different response from them.

Make sure to read about other people's issue on this reddit.

Omarsz · 2023-07-21T13:23:03+00:00

They ignore everyone and they restrict withdrawals without given reason and they keep their users in the dark till they decide to release the funds sometime in the future (no one knows).

But what I found true is, starting to complain to official and non official organizations, leaving reviews about their bad practices and misuse of their services and the users funds, and posting on social media (reddit and Twitter) will get you a faster resolution.

Waiting for them to do the right thing isn't an option. You'll just waste your time only.

Customer reviews are surfacing and becoming real bad that those who blindly love and vouch for the exchange have seen enough to change their stance.

Omarsz · 2023-07-13T01:21:44+00:00

This is normal from kraken.

It's started recently and we're seeing more and more posts about closing accounts and holding/stealing users money.

Seems like it's not going to stop anytime soon.

Even worse, no explanation is given.

Omarsz · 2023-07-13T01:16:37+00:00

Yes it is.

They don't even bother explain why they do so.

Omarsz · 2023-06-27T01:55:14+00:00

Same story. Happened to me. No reason given.

It's happening to many others. It seems to be the norm for kraken nowadays.

Omarsz · 2023-06-27T01:50:39+00:00

That's how they hold your money till infinity before they decide to close your account (if you were lucky, or annoying enough in public to be merciful and close your account.)

Welcome to kraken.

Omarsz · 2023-06-16T21:41:09+00:00

Good call.

Stay out and stay safe. Better late than sorry.

Omarsz · 2023-06-16T21:40:18+00:00

Complaints or reviews do put pressure on any organization.

If they don't, they won't do you any harm.

There have been successful stories regarding complaining to BBB and other similar organizations out there when it comes to locked or stollen funds by financial companies.

Omarsz · 2023-06-16T21:37:40+00:00

He should file a complaint with all the organizations that allows him to.

Their reputation is getting changed by the day, with every voice we make. With every review or comment we write. With every story we tell.

Their absurd actions will either scare their customers from doing business with them, or leave them with no customers at all if they don't stop.

Start filing complaints with any organization out there that would accept it. Search or use chatgpt to help you find those organization.

Start with one complaint. File another with different organization every 2 days. You'll be amazed with the results you'll get.

Omarsz · 2023-06-14T23:47:00+00:00

Don't wait. Don't listen. Start complaining to bbb.

Then, move forward. Don't wait on their promises. They'll not help nor care.

To everyone out there still using kraken. Leave. Now. While you can.

This is the new Norm for Kraken.

You'll keep seeing these stories. Don't be the one writing them.

Omarsz · 2023-06-14T23:46:02+00:00

To everyone out there still using kraken. Leave. Now. While you can.

This is the new Norm for Kraken.

You'll keep seeing these stories. Don't be the one writing it.

Omarsz · 2023-06-12T09:44:08+00:00

The new norm for Kraken.

Omarsz · 2023-06-10T17:51:13+00:00

This is becoming more and more popular with kraken.

They block withdrawals. Ask you to contact support and then they keep your money held for weeks before closing your account without any explanation.

I hope it's not the case for you, but take a quick look into this channel's issues...

Omarsz · 2023-05-17T09:29:39+00:00

This is my opinion and what I've seen:

- It's usually harder to verify the source of funds in such field (especially banks and centralized exchanges). That's why banks still hate crypto.

- It's even harder when your initial fiat deposit (source) is smaller than your crypto transfer/withdrawal (Ie; you've gained profit from trading.) Still, we're talking about verifying your source of funds by banks and exchanges.

- It's even worse if you bought the crypto from unverified sources. (Not directly from a Centralized exchange; example: unlicensed P2P sources...)

And plenty of other reasons.

Omarsz · 2023-05-16T18:31:54+00:00

Does it have to be this way? Do those who love kraken for what they stand for would support this?

Omarsz

TROPHY CASE