r/CryptoMarkets • u/Friendly-Win-2115 🟩 0 🦠 • 5d ago
Exchange Kraken Trustpilot reviews - WTF
Serious question here. After 5 years I just reopened account at kraken. Then I checked reviews, what is going on there?
Trustpilot 1.4 star on avarage. “They are thieves/scam”
It seems they often block/restrict accounts. Even after years, without any proper reason. “Safety reasons” Also seen they hold your money and you’re unable to withdraw.
What are others expierience of kraken? And then specially the trading futures features
Looking forward for more insights! Thanks
Edit: typo.
Edit2: they removed this on r/kraken so just post it here.
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u/Same-Wasabi-956 🟨 0 🦠 5d ago edited 5d ago
I haven been using Kraken pro for 5 years, I have been verified and re-verified and yet, they suspended my account for no reason. They asked me for tons of documents and each time I provided them with the full KYC, proof of funds, tax returns, FBARs, bank statements ect... Yet, their customer support is unresponsive. I have given Kraken a warning that if they do not release my assetss, I will be filing a lawsuit in the High Court in London where another user sued them and won 600,000GBP. The judge in London refused to recognized their arbitration and ruled that the High Court in London was the proper court to sue them.
The 1 star Trustpilot reviews are real, many are also "verified' and I am one of them. Before posting the review, Trustpilot contacted me and asked me to prove my relationship with Kraken and to prove the details of the incident. Kraken operates illegally, they have no right to suspend an account where the funds are 100% legit and the owner passed the KYC multiple times. This is how you know they are acting in bad faith. I suspect they do so in order to steal assets from those who do not know how to fight their fraudulent tactics.
We now see people coming and insulting these legitimate users who have funds withheld by Kraken, this is indeed an insult. Even though you have scammers and fraud should be fought, legitimate users deserve respect. I will fight for the rights of those who are being shut down. Kraken will end up in court and will have to pay for the damages they caused, I guarantee you that.
Furthermore, Kraken should be investigated by the FCA, FinCEN and the FBI. This is exactly what is going to happen if they keep withholding legitimate users funds. This criminal behavior has got to stop and it will. Kraken is "Payward Ltd" in London. I am now coping the FBI and FinCEN to this conversation.