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Stay away from Kraken

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Stay away from Kraken

I just wanted to share and inform about the mischievous activity of Kraken towards their users. If you check r/KrakenSupport , you will find dozens and dozens of posts regarding unanswered tickets, frozen deposits or withdrawals etc. All of them remaining unanswered.

If you try to go spread the news, Kraken tries to silence you. I myself have been muted by kraken and my post was taken down.

The only way to contact Kraken is via ticket or via reddit. They do not offer phone calls or emails. You may also talk to a useless AI Agent, which keeps repeating the same answer.

https://preview.redd.it/6p4hr6um6nch1.png?width=760&format=png&auto=webp&s=c7b95d6a9e27c2ddc4c30f416c5c3fa32261d51c

That being said, Kraken is supposed to be one of the more trustworthy crypto exchanges, backed by the Bank of Ireland I thought. What are your experiences with Kraken? Could you recommend better crypto exchanges (living in the EU, so MiCA required…)

Edit: Some of these comments seem to suggest I did something wrong and falsely accuse me of improper use being the explanation for my frozen assets. So I want to use this edit to make few things clear: 1. I have opened the account 7 days ago 2. I verified successfully immediately 3. I have transferred money using their proposed SEPA mandate, after verification 4. My fiat Bank account provides documents for the successful transfer. The money was sent. 5. Immediately after the transfer, a popup message shows up on kraken, describing my account as restricted and promoting me to please check my mails for further info 6. My mail account is empty. No kraken info 7. Yes, I quadruple checked 8. Yes, I quintuple checked Spam also 9. I tried using their premade support solutions on the support page. No success 10. I tried reaching out via the chatbot. It created 5 tickets, all of which have been closed unanswered 11. I failed to find an official mail or phone number. Hence I went to reddit. After my first post, they started the “just wait”-mechanics. 12. I don’t even think I am overreacting or being a nuisance. Someone said this behavior is normal for any financial service, and I strongly disagree. Everyone and anything has ever perfectly explained to me any transaction, any ban, any restriction ever going on with any financial issue on every single bank account I never owned. I had 10k€ vanish because of a software bug on an investment portfolio. Support was marvelous, and they explained clearly where the money went, how they will get I back etc. 13. I sent the money from a bank account in my name, matching the name in the legal documents I had to provide for verification.

submitted by /u/Adventurous_Heat1003
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