Topic: i seriously want to sue major CEX for missoperation of client funds (Read 183 times)

Why you all never learn, thats is why Binance exist so you dont get scammed

 

updated the case to medium -- feedback appreciated


https://poolmonster33.medium.com/not-your-keys-beware-of-kraken-com-a03c182e326e

little update

i still collecting contacts of people willing to help
no real world action has been done

pay.wards has an address in london- this is much better than having to deal with USA

meanwhile i constantly pressuring their support team when my deposit will be funded and this time i recieved a written reply

Yes, we have made significant process in getting the new process reviewed and
approved, however it is still not fully operational and will likely be yet another few
weeks to a month.

i am not a lawyer - but when anyone feels this is now easy for me to start a case lets do it
i guess 1 letter from a lawyer with a deadline from my side or .... we escalate the case to the fullest extend by law 

would solve the case .... they just lazy

  thanks i already did that
writing multiple emails and they responded with a fictional firstname
_:dont even know if man or woman probably transgender so lets call it Kieren_
Kieren said_:
" this is our final decison, we can recover your funds because the smart contract blabla security blabla multiple people must meet bla bla this decision is final although we noted down your request.

i found the following address from a webinar initiated by craken
(K)raken
237 Kearny St #102
San Francisco, CA 94108, US

so - by the end of this week i start the process called " anwaltliches erstanschreiben " where they need to respond to a lawyer .... we do this step by step and i keep you posted - this first step is pretty affordable regarding costs around 70$

we note that there is a deadline returning the funds ( which is the key aspect here )
still unsure how court claim works with international law but i found a very good lawyer german/english  ( Rechtsanwalt Reiner Füllmich )

the advice above does not work for a few reasons
you cannot add on excessive interest.
you cannot demand your new terms without giving them sufficient time to respond/solve the issue/be forewarned of new terms.
many cases are thrown out purely due to stupid bad accounting of demands. meaning it costs you some lost income just filing and lost time having to refile at a later date with more reasonable demands.

better advice is that you will give them 14 days to resolve the issue and if not resolved you wil add on the costs of legal advice already sought. or if it is resolved you will not charge them.
however if not resolved you will then seek further legal advice at $XXX per appointment which adding your own administration costs to communicate between legal advisers and the service will be $XYY per week, giving them X weeks thereafter before seeking a court claim

usually best to give them a calender timeline of 60-90days of oppertunities to resolve before a court date

in short
give them a feasible deadline.
give them a rational reason for increases in the debt they owe you.

you can if you are able to account your average daily profits that funds would have made. add on that interest. aswel as costs described above. but it definitely wont be 17.5% a day

Just imagine a man buries $2000 in gold coins in a vacant lot for safe keeping. He comes back a year later an finds a building on top of the site. He insists that the owners tear down the building and recover his coins.

That could be the situation here. I don't know because we haven't heard Kraken's side.

Send them a E-mail asking for.

The name and address of the legal department or law firm used by said exchange.
The name address and company registration information (Company number, Registered address, Name of person with significant control)
A named person who is dealing with the issue you have raised.

Set out that you are giving them 30 days to come to a satisfactory outcome of either your funds returned to the ORIGINAL address or unlocking of the funds to your account on the exchange.

Explain that you have previously contacted them and you are not satisfied with there response or the outcome offered (if any)

Explain that if you do not obtain a satisfactory outcome in 30 days you will seek legal recourse by recording a affidavit of events to this point along with all correspondence to and from the exchange.

Explain for every day they hold your funds without a full explanation you will be seeking to charge them with interested at 17.5% for every day the funds are in there holdings.  Further more tell them you will seek to take them to court over the matter where they will be liable for all court costs.

I would also seek some legal advice from a law firm before sending this have a meeting with someone explain the issue see if you have have a letter sent from a law firm on headed paper outlining the above and the issue with the missing money.. (this will shit them up and make them act)

Tell them also you expect a resolution or a FULL explanation of where your funds are and what they are doing to resolve the matter.

Don't back down it's your money and they OWE it to you to pay it back or credit it.

Good luck

i want to avoid the exchange find this post- real website of course Craken with K

already sent around 30 email . need something more powerful now

i recieved one interesting tip about the kucoin hack and how they blocked transfers and manipulate deposits /withdrawls of all clients - their technical backoffice guys were on twitter he said , must find them
they sure have some tips for me

I'd just keep up persistence. I did something similar with another exchange and sent another email every so often until I was put though to an engineer to resolve it.

As long as you're polite with them they should be able to resolve it....

Why are you calling them craken though? You didn't use the wrong website?

ALL CONSTRUCTIVE HELP IS WELCOME

Basics
Im verified tier 2 client from germany
Exchange is Craken with a "K"
Simple Reconstruction

I have send DAI to my ETH Craken Address
Exchange refuses to credit : the so called internal (smart) contract wont be able to recover the funds nor credited to the trading interface

We all know its B.S. but what can i do now 

i tried the following i said
Closing a bank account also results in a return of all client funds ,its a financial law i improvised (maybe true) Craken was not impressed by my story. Is Craken legally a bank or just a internet service provider who is allowed to make rules that are even unethical. i find any official address of them !

just imagine you make a wire to your friend and its only processed when you write 777 behind the name ( any stupid rule) and the website states  "click here when i understand this stupid rule" - come on this has no ground in court does it ?!

We shouldnt forget the nature of ethereum and how erc20 are created !
when you send me any kind of erc20 to my ethereum .. its mine , a digital asset !
All Major Exchanges use 1 ethereum address for all ethereum (erc20) assets but not Craken- thats why i was simply shocked and confused -bittrex -huobi -kucoin -hotbit  and many more use all 1 eth for all



would you guys recommend  going to german local police and file a claim ??
its basically theft
ask for help with financial oversight if so how ? bafin.de / IHK.de
consult an international operating lawyer ?? together with ethereum developers and proof a statement ( smartcontract ) cant route dai IS valid by a technical point of view

Stellar Memos for example - are there similar cases that i can lookup where people tried to sue the exchange for sending stellar without MEMO  ?

https://etherscan.io/tx/0x234312de55acad1204092c4b5131dae50bd853130f3e45ab77d349472f5a4f04

there is 1 thing for sure i will not give up!!! 2000$ is a lot for me!! we all know they need a few seconds and clicks to obtain the private key of any hot wallet and send funds where ever they want 

to be continued