Hurray - "just" two months of waiting and my money is BACK on my bank-account. Kraken does not want me as customer any longer, I do not mind, I do not want to deal with kraken as well...
interest was not paid, damage was not compensated, but money was given back.
That's it for me on this thread...
Bye
BS

Dargo

Seems the withdraw is processing,now.
Let's see in 2-3 days...

BS

Welcome, madgpt, in the club

I was Tier3 for more than two years. Then out of nothing, kraken put my withdrawal on hold and ask for NEW Tier3 verifiation. I did that within a few days (as kraken did not offer any SECURE upload possibility, nor could support use exchange's PGP keys).
Then they told me: I must wait and best is to keep my mouth shut until they, MAYBE SOMEDAY release MY thousands of Euros to MY (known and verified) bank account.

That was TWO MONTHS ago! Nothing happened, support is not writing me anymore and Dargo cannot do anything but IGNORE my as well. If I was part of this criminal company, as Dargo is, I would immediately quit my job to not become accused of helping to steal customer's money.

I would like to sue them before court - before they are away with my money, but I have no money for a lawyer and live in Europe ... what can I do?

In case I can join your standing up against kraken - to get back what is mine and never was kraken's - I will be happy. Send me a PM if you have some ideas how we could join to NOT LET kraken STEAL OUR MONEY.

Best wishes
BS

Dargo, I WANt MY MONEY BACK. Waiting 2 months for you to transfer MY MONEY to mee is not acceptable.

I WANT MY MONEY BACK- but now you do not bother to write anything anymore.

BS

Dargo:
"This que includes deposits held for other reasons that may take longer to release."

Other reasons: you are broke and stole them, for example.

I may remind YOU that you HOLD MY FUNDS for two months now. And You have NO RIGHT to do so as you KNOW my identity 100%.

You do not care anyway, as you know that I cannot do anything. You stole my money and laugh at me, keep me waiting and tell me some foggy nonsense to keep my away from having you prosecuted for theft.

I WANT MY MONEY BACK. Two months waiting is enough.

BS

RogerG3

My money was put o hold February the 2nd.

Until now: NOTHING. Kraken knows my identity 100%, I made another photo-ID on kraken-request 3rd on Feburaray - even though a I was Tier3 already!
Kraken took MY MONEY 2 MONTHs ago - and does not bother to give it back to me!

Dargo writes, sometimes, weeks passing, that I must WAIT as ONLY they decide what they do with customer's money: steal or give back, maybe, some day who knows when. Kraken took my money and tells me to keep calm and wait. I do not know how to sue them before court from Europe, but I surly would if I ws anywhere close or had the money to pay a lawyer.

And they cannot tell me why they keep MY MONEY (thousands of EUROS!!!) and how long they will keep it and they do not offer any offical dispute possibility. Kraken simply steals - bitter and easy.

You sent them money? OK, MAYBE kraken takes it, maybe not, depends on how lucky you are. If they do this to many people, their backlog in support can be VERY long, yes.

GOOD LUCK!

BS

PS: Dargo: I WANT MY MONEY BACK.

Dargo!

You can process THOUSANDS of tickets daily - but I must wait for HOW MANY MORE MONTHS get get MY MONEY BACK?

What are you doing? OH, yeah, you cannot say.
So use you super-power to process so many support-tickets daily: let the NEW users wait ONE day and use all your staff to finish my case, NOW.

What are you waiting on? Oh yeah, you cannot say!

In my country, when a private company steals from their customers as you do, it would become closed fast - and the staff (YOU) would stand before court as the HELPERs of the criminal management.

There there is evidently no law and order in USA, so you can steal and come away with it. Are you part of "The company" where all members think they are GODs? That would explain alot.

Oh yeah, you must do that I must wait because that's what YOU decided by YOURSELF and for YOURSELF.
You have no legal right to hold my money - as you know my identity 100% .

BS

Hi idolacchacked, welcome to the club!

I have been waiting on my money from kraken since February 2nd.
First, they told me they need more ID-proof, then they would release the funds.

I sent all photo-ID they asked for, then they told me that there is more but they cannot say what and I have to wait for MANY WEEKS for them to finish their investigation and they told me the best I can do is to keep my mouth shut and WAIT!

Until, one day, maybe, they will release MY MONEY back TO ME.

More then 5 weeks I have been waiting now, no communication anymore. They simply took a few thousand Euros from me and prefer to remain silent. And tell me I should NOT contact police because KRAKEN is so very good and I MUST be BAD, because the GOOD GUYS would not simply steal my money... no... they only do what is "surely legitimate".

What can I do? I have no money for a lawyer... and it seems that I was the only one they kept the money from...

Best wishes to us all
BS

Hi

Thank you. I spent so much time here because I wanted to warn others and see whether there are more such cases like mine.

You are right, I should have read the T&C and I should not have traded with Kraken.

Anyway, the T&C are long and lot of things inside, so I asked kraken support to give me the exact paragraphs for this case.

I will write to legal@kraken.com and try to get some answers from there.

BS

Dargo

Would you be so kind to give me AT LEAST a LINK? I cannot find your T&C and do not want to loose time searching.
Why You cannot simply give information and not let others do your job and search for the sections in your T&C?
You surely know where to find it, I do not, I need to search for it and it' enough that you took my money, I do not want you to take my time as well.

If I should meet you, I will pickpocket wour wallet and tell you "I noticed something on our outfit and need to keep your wallet for indefinite time." Let's see whether you like it.

Present me the INFORMATION, not some "go and search yourself".

BS

Totscha

Well, the AML rules in my country say:
When I think a customer of mine is laundering money, the I must REFUSE to trade with him and inform the AML-office (governmental organization, not private company).
When I'm not sure what to think about a customer, I must try to find out and refuse to trade with him as long as I cannot find out.

I'm not allowed to keep money of any customer just because I suspect something. In case I have made a trade already and find out afterwards that the customer may fall under AML regulations, I must inform the AML-office and should, if possible, cancel the trade.

In my country, private companies do not investigate crimes, but law enforcement does. Private companies only GIVE INFORMATION to the AML-agencies.

Banks are the only ones who might keep money of their customers - but only AFTER a judge decided that they must do so land they must present the evidence to the customer affected - but that person in 99% of all cases know in advance that this will happen, as the court is obliged to inform the suspect about any action against him.

Simply telling someone "hey, I keep your money because I think, you might have committed a crime and now I must investigate forever" sounds extremely UNLAWFUL to me, but maybe in the USA that's OK and usual and private companies make their own laws and enforce them and punish the suspects as well. All-in-one.
Sounds like a 5th world country, then.

BS

Hypolite,

I never had any problems with Kraken. They have always been reactive when I asked them and for me it is a serious platform in which I trust.

I would have written EXACTLY THE SAME - until Feburary 2nd, when they put my money on hold and not even bothered to inform me about this!

Then they started to play on time and give hot-air-answers.
They just tell me after some posts, that I simply should give it PLENTY OF TIME and then, one day it may clear up! Cool.

Never ever Kraken! I want my money back! I want to get clear explanations where in the T&C what rulings apply and what legal steps can be taken where for defense.

BS

KRAKEN is evidently in massive problems.

They are HOLDing MY MONEY since 4 weeks now and tell me on THIS FORUM that I might have to wait for another (many) weeks and MAYBE then I will get MY MONEY back?!

They tell me NOT to contact governmental agencies because it might not be effective?...SORRY?? WHO CONTROLS KRAKEN and makes sure the actions are legitimate?

It is MY RIGHT to defend myself against  private companies that "investigates for weeks" what I do and who I am - a prefer to keep my money during that time?

Kraken, YOU CAN INVESTIGATE how long you want, I WON'T EVER trade with you again - BUT GIVE ME BACK MY MONEY. NOW!

Comments:
>we are confident that we do not do this illegitimately or without good reason.
YOU can be confident, I AM NOT. IT IS MY MONEY not YOUR money. If I was holding YOUR money, I would be confident that I'm doing this with good reason as well! If Kraken was a criminal company, WHAT would they tell me? They'd doing this for "bad reason"? Haha.

>However, in the case of disputes, businesses like ours have a legal or "Terms of Service" section that explains how disputes must be
I asked MANY TIMES, SHOW me the  explanation. EXACTLY QUOTE YOUR T&Cs where they apply to keep customers' money "indefinately".
Explain this not hint on this, you understand the difference?
It is NOT MY JOB to work through YOUR T&Cs to find out, what YOU could possible mean - but YOUR JOB to exactly show me the rulings and explain how they apply in my case.

>handled. In most cases this process is pretty involved, so it's probably best to give the situation plenty of time to resolve more informally
You tell me that what YOU DO IS THE BEST. Well, I disagree!
You MUST give me the possibility to DEFEND MYSELF - and TO possibly GET MY MONEY BACK AGAINST YOUR WILL (and with compensation).

>before taking on the formal dispute. Complaints to law enforcement or regulatory agencies may not be effective because they understand >the kind of controls a business like ours has to maintain
YOU KNOW what agencies UNDERSTAND? It it up to you to decide?

Can these agancies please tell me them-selfs that they support a private company to hold funds of customers indefinitely just as long as some support-staff tells the customers "we investigate, wait several weeks or so, who knows".

That MAY NOT be effective, but that MAY BE EFFECTIVE as well, because YOU may simply MISS-USE your power over MY MONEY.

Is it UP TO YOU to decide what step I may take against you and what not?

You believe you are the good guys, and can do whatever, right?

If you would be me, feeling as the good guy and see that a "company" take/steal/sit on forever your money, what would you do? Give the criminal company (Kraken) so much time as they want and need to come away with theft?

How you can possibly investigate ME for weeks? You are no Law Enforcement, you are no governmental investigators what you can possibly investigate about me? And how do you investigate, if you do not ask me anything?

More things:
> As mentioned in previous posts, we have asked for stronger evidence of identity and also have some concerns about how the account is
>being used - however these are not necessarily the only concerns with the account.
And you are allowed to confiscate MY MONEY if you find out that I used the account not in compliance to your T&C?
What other concerns you have?
Your words sound nice and cozy, but they are just hot air. Anyone can say this! Any thief would say this, so I keep calm long enough for the money to vanish.

If you was me - and no worker of kraken - and would experience how kraken simply LIED to you (Kraken: "we'll release the money when we will receive your Photo-ID" - I sent it: "thank you, but, oh, it might take another several WEEKS until we investigate everything we want to know. Give it PLENTY of time, as much as WE need!") what would you do?

Wait several weeks until kraken vanishes, like MTGox and the money is finally gone??
Maybe Kraken is the BAD GUYS? Have you ever thought about this?
Maybe YOU WORK FOR CRIMINALS and help them to STEAL MONEY FROM CUSTOMERS!

I have a LEGAL RIGHT TO DEFEND MYSELF against companies that STEAL MY MONEY. And you must - as worker of this company - instruct me HOW TO USE MY LEGAL RIGHTS!
Not tell me that this MIGHT NOT BE EFFECTIVE and I should rather NOT do it. WHY NOT?

Even if it was NOT effective, why shouldn't I try it? It's my RIGHT! Maybe you will be faster gone with your customer's money and it won't be effective, OK, but maybe it will be effective!

Is it your task to HINDER users to take legal steps - as long as possible? Are you conspiring to cover up crimes by kraken-staff?

LOOK at all the problems kraken-users have. There is MUCH MORE behind this than you want to make us believe and trying to calm me down and let me wait on my money for many weeks, months or years? (you said: indefinite!!)

Can kraken hold money of their customers for years? Simply when they PRETEND TO investigate?! Who can CONFIRM this? What external agency can assure ME that you ARE NOT A BUNCH OF CRIMINALS?

WHY SHOULD I BELIEVE YOU?

BS

And MORE days passed and NOTHING!

NO money

NO reply

NO support

NO information

Almost a MONTH now.

I have been customer of Kraken for almost 3 years! I never exceeded my limits, always provided all information asked for.

And now they stole my money and prefer to not talk about this with me.

Meanwhile I could become customer of other exchanges - who needs kraken? - but my money is gone!

Anybody knows how and where to file an accusation of theft against Kraken?

Sad situation!
BS

Well, no news today, but it seems I'm the only one complaining - so it does not look like "more and more withdrawals are on hold".

I tend to believe that (like stereotype wrote:) "Maybe you were the sacrificial lamb in this case".

Thus, it looks like I need to wait. And wait.

First they hold the money.
After I COMPLAIN to support, they tell me: give us new ID & answer, then you will immediately get your money.
After I give ID and answer, they tell me: we need to decrypt, hold on.
After they surely have decrypted the ID and answer, they say thank you, hold on.
After some more days after I complained again and again, they say: sorry, "compliance", we cannot tell you anything, but will one day.

All my questions about:
- where can I complain about the situation (company & external)?
- what court to contact in case of disputes
- which ways of defense are present and how to go them

Are ignored. I can SAY anything that sounds nice, like "because of compliance reasons we cannot tell"... compliance to WHAT exactly?
Quote it, Kraken!

They LET ME trade, no problem (just like MTGox), when when I want to withdraw my money, then all of a sudden, they cannot let this happen, and cannot tell me why, first ID missing, then compliance then...?... I want to see the law forbidding them to tell me why exactly they hold my money and which, exactly, steps I can take to defend myself.

to be continued...

Today, I was told that I cannot be informed because of "compliance reasons" and that I need to wait longer.

And another day passed... NO ANSWER from Kraken, no money from kraken... just SILENCE.

Support stopped communication with me after they could not deny having received the information they asked for.

Anyone with an idea what to do now?

Post Scriptum:

AND, the company MUST show evidence for either of the two cases: present a changed account or BTC-address to the user and ask him, whether it was changed by him - or present the court's command on which the company is acting against it's customer.
AS Kraken has not presented me either, neither of the two cases can be claimed.

Kraken didn't even bother to quote their T&C's and the applying US-regulations and laws. If law would offer the possibility to a company to hold their customers funds against the will of the customer, it would 100% as well offer the way for the customer to defend himself against miss-use of this law by the company.
If Kraken would present the laws and regulation, I would know what official to contact to make them aware of a company that may miss-use anti-laundering-regulations to scam people. If they hold my money out of nothing and do not offer a fast and secure way to update the ID - and need many days to check it! - Why shouldn't I suspect kraken of behaving in a criminal way?

The most suspect thing is that they simply put it on hold. One would expect that there is a clear explanation, including quotations of T&C and US-laws according to which such an action is lawful and giving information about how to defend oneself: where to complain to and what officials to contact in case that miss-use is suspected.
I asked 3 times for the contact to the boss of "William, the investigator" (support) to complain: NO ANSWER.
That was when I decided to go to this forum and into public. They play ON TIME. It's 100% a play on time and that reminds me on how MTGox went down: they put the withdrawals of more and more people on hold.

It seems, they even do not care about my POSTING HERE. No answers, no quotations, no support giving a CLEAR information.
The first message from support (after I noticed after two days + weekend that the money did not arrive on my bank's account and wrote support, what is the problem??), so their first answer was: "we need ID-Photo and know whether you re-sell or not. Present the asked information and the money will be released immediately."
I answered: OK, but I don't want to send via unencrypted e-mail - and upload is not possible (because of KRAKEN, not me!)
Kraken answered next day: OK, send PGP encrypted to support@kraken.com
I got the key from their website and sent.
And the next day - Kraken wrote: wrong PGP key. You need the key from the support, not the exchange (homepage). Get it at MIT.
I wrote: I do not know how to get the key from MIT. Please send your key attacted to message or downoad-link or GPG command-line for importing
Again, one day waiting, then Kraken answered: OK, attached

At first I did not find it attached as it was a LINK in the message below and send a very upset reply. Then I found it, imported it - and forgot to encrypt the mail, so I did what I wanted not to: send my photo-id via e-mail unenrypted. I then encrypted it and send once more encrypted, to the PGP key the support (William) sent me.

But, instead of releasing the funds, kraken wrote me again, one day later:
Thank you, we will have it decrypted and checked. Due to so much work, it will take some time.
No contact to someone in the company to complain to (MUST be present according to law, is called: "quality control"), no instruction how to complain at official places.

But Kraken does not seem to care much about such POSTS like mine in the public, do they?
Why? Because the shit hit the fan already and my post is the smallest problem they are facing?
Wouldn't you expect a serious company to make sure that people like me who post in public forums would be openly cared about in the way that other customers see that kraken does it's very best to solve the case fast and making upset customers happy again - that would be good PR, no?

Dargo might argue, that he has PCT and does not work on Sundays... no one works? Too many tickets or TOO FEW WORKERS LEFT?
It is at least outrageous, if not criminal.
And Dargo, if you disagree, prove that: quote the rules and regulations where they apply, offer the contact for complaining, the steps for juristical defense against kraken, what court to contact and all the "normal stuff", banks and all companies present to their customers in case of disputes.

Would you be so kind to show me that law?
" Just as Kraken is required to hold your money until they can verify your ID again. If they break this law they could lose their license to do business."

Why kraken cannot let me UPLOAD the ID? It could be done in minutes, but NO, I cannot UPLOAD it. I cannot delete the old and put a new one there.
Why kraken needs DAYS or weeks?

But first of all, they would have to block the TRADE and let me withdraw my bitcoins.

My ID expired 2 years ago. So I did lot of trades since then, no one cared. Then out of nothing, they HOLD my money, beause the ID expired?

It's good-sounding nonsense.
Last Friday morning (UTC) I send the encrypted ID-jpg a 3rd time. Since then, support is not bothering AT ALL with me. Unfortunately, they have so many tickets... because they stole the money from so many people?

If suspect someone could use your service to launder money, you are NOT POLICE, do do not make traps for that person but you REFUSE to become PART in his criminal business, by REFUSING TO TRADE. Not by taking his money.

You argue with law, but you do not QUOTE law. Tell me exactly, there US law tells private companies to keep money of their customers in case that a customer does not update some information he did not know it had to be updated.

If you come to a shop, pay lot of money for some item - but the shop-owner thinks that your money is "illegally acquired" and that he must not make deals with you, what does he do? Keeps your money AND the goods - and has then NO TIME to check.

My money is ON HOLD from February the 2nd. ..

Last thing:
"Kraken has done something horribly wrong": well actually no-one was raped, murdered, tortured - so of what normal people thing of "do something horribly wrong", that did not happen.
BUT, for an exchange, stealing money from their customers, that is "horribly wrong". Can you imagine that you come to your bank and they tell you: "sorry man, we need another ID from you, to pay-out you YOUR money to you."
OK, you present that ID and they say: "yes, nice, we'll look to it, but we have too much work, these days, checking oh so many IDs, please wait some days or week until we give you your money."

So you do not get the money from our bank, cannot buy your daily needs and wait for them to prove that you are you -while keeping your money and having LOTS OF TIME for this?

You would not accept it from your bank, but because it's "online" and there are some "obscure laws and regulation no-one quotes", but use as reason for their actions, you think it's OK, because if I was a criminal, I could disappear with my money?

It is NOT UP TO ANY private company to decide whether the money someone brings there is illegally acquired or not (that is up to a COURT!). IF the company has the suspicion it may be illegal, they MUST REFUSE BUSINESS - or in cases when the suspicion is huge, they MUST INFORM the governmental anti-money-laundering-office - but refuse business!

But kraken DID business and then confiscated the money. That is not OK and unlawful. Whether it is horrible or not is up to the point of view. I I would relay on that money for my living and would now not be able to buy my nutrition and die - because kraken has not managed to check my documents fast enough, it would be ok for you, because "the law requires" it? Exaggerate to see clear:

keep money from customers can be done only in two cases:
1. suspicion of hacked account and thus protection of the customer from getting his funds stolen.
2. court's command to secure funds of a person that is being investigated because of some suspected crime - suspected by a court.

Best regards
BS