Kraken

On 15/04/2025 I transferred $10000.00 AUD from my bank to the Kraken account above which generated inside the kraken app. I had previously completed only one small test transaction which credited my account immediately with no problems. Within literally one minute of my $10000.00AUD transfer reaching the Kraken account kraken support email stating that my account is suspended. I engaged with Kraken chat in the app. Kraken immediately closed my account. Kraken communicate only by email from support@kraken.com. This email address does not reply to direct emails concerning this matter from the verified customers email address or phone. Kraken phone support is UK, USA, EU only. The operators ask for the email address associated with the account and then say support@kraken.com will contact the customer by email and hang up. The support@kraken.com do not send any email and there is no way to contact kraken. They close the account and confiscate $10.000.00 AUD without explanation. My bank has traced the transfer to the account numbers above. The transaction completed successfully instantly. I believe kraken are a practising cash deposit fraud enterprise.

Froze my funds the first day I started to trade – After being completely disappointed with Coinbase for freezing funds and just being a customer service nightmare, I tried Kraken. Same deal basically. Even on relatively small amount of $4,000. They even let me process the transfer but THEN said my account is restricted so I don't have the funds on either end at the moment. At least they actually have reasonable trading fees and have SOME customer support, albeit very slow. still waiting for resolution on this and don't know if it's going to keep on happening in the future. BEWARE however. These big exchanges do whatever they like with no consideration for how that might affect your trading.