Topic: Kraken failing to execute orders?!? (Read 10889 times)

Are you quite sure? For fiat withdrawals, they require that the name on your bank account matches the name on your kraken account. That's very hard to fake for a hacker.

Hi Icoservices2018. I'm not sure what you mean by that. Were you trying to generate a new ETH address to fund your Kraken account? You would need to navigate to Funding > Deposit > Ether (ETH) and click the green button to generate a new address. There may also be a disclaimer that you agree to if this is the first address you're generating on Kraken.

As for your orders, has this been happening recently? I haven't heard this happening to any clients since early January before the trading engine was upgraded. Do you mean that your orders aren't filling for 10 minutes or that your orders don't go through for 10 minutes? If you place an order it will be open until it's filled. It could be instant or it could be opened indefinitely if the purchase price was lower than the market price.

If these are still issues please escalate your ticket using this form. Thanks for reaching out.

I agree that Kraken in a very nice exchange but it has a horrible operation system. I have tried to generate my eth account and I couldnt, so I opened around 3 tickets and I still waiting the answer.
And If you try to set an order, lets be a patience guy please. You could get it fast or you can try it for 10 minutes..

I prefer Bittrex

Kraken had a major trading engine upgrade in the beginning of January and trading has been running very smoothly ever since. If you haven't been to the exchange in a while we'd suggest dropping by to test it out again. Be sure to check out our new trading interface at trade.kraken.com.

If you need anything else please drop by our Bitcointalk thread!

I m trying to post an order for the last 8 hours without success. Its ridicoulous. I tried 2 platforms, 3 currencies. Nothing, nada, nix. Doesnt even take the order. Got 4 different error messages.

usually failed order
agree, terrible platmform

Of course they didn't, they just gave me a few more of their stupid little Kraken Free Credits for transactions, while failing to fix the issue (as proven by today's smaller movement, where my simple market-buy order took about an hour to execute, which lost me the favorable price point I could've nailed, close to the bottom of the drop).

No, that's ridiculous. They have tons of users with tons of orders frantically executing when this kind of thing happens. I just think they have too many users posting too many orders relative to their server's capacity to execute in a short time, so by the time some of the later orders are reached the price may already be far from favorable. I just have to move to another exchange with a better users/hardware-capacity ratio - it's clear to me now that I'm completely wasting my time on Kraken, since I can't even capitalize on a 10% correction here.

Whaaaaaaaaaaaaaat? xD

That's... Insane. Well I had a rather good opinion of Kraken before, but it seems that I was a bit misled.
Security is probably the main point of a platform exchange, so not having a freaking simple email confirmation is... Well it doesn't make sense.
I had no problem with them but I didn't use them a lot. Without any reason though, just because I used more btc-e and polionex. It seems like it was a very good idea to not use it a lot. Specially as the platform exchange are numerous with high quality.

I'm not sure what's going on with these exchanges. I lost money on Cryptsy last year, luckily I'm using Poloniex right now and so far I haven't had any problems. That's about 4 exchanges that I know of that have had problems with depositor funds.

any exchange that forgets to pay their cloudflare bill then tries to deny it, forcing cloudflare to come up with the proof, needs to work a little harder on their professionalism.

I also think that kraken is to blame for these bad default security.
But they already implemented email confirmation. the first ~ 5 to 10 times you withdraw to an new address, you have to confirm it via email. After that it does work without email.

U want a fkn bet?

https://bitcointalksearch.org/topic/multiple-kraken-accounts-robbedemptied-kraken-say-fuck-you-its-your-loss-1559553

To save you reading the whole thread, the gist of it is as follows.......Kraken accounts, where the user has opted for the default security options, allows withdrawals to be made without even Email authentication. Even if the Kraken account holder opts to use Kraken's 2FA authentication for withdrawals, 2FA can still be turned off by anyone with the password to the account. Only those who opt for 2FA on every single log-in, accounts are 'safe'.

In the thread, are a handful of people (myself included), complaining about having their Kraken account's emptied. Kraken's response is to offer their 'sorries for your losses', and little else. Had Kraken simply had email verification for withdrawals, then none of the victims in this case would have been robbed, but even now, they still have not implemented this as far as I am aware. Furthermore, this is not the first incident of limited numbers of people being robbed on Kraken. A quick search through reddit and such will bring up many accounts of small scale thefts occurring on this exchange over the course of time, without there ever being any kind of media attention brought to Kraken's door.

I am not saying that it is the exchange owners themselves who are doing the thieving, but the exchanges definitely has rats, with backend access to passwords and such, and the ability to empty 'vulnerable' accounts, i.e. any account that does not require 2FA for simple login. What is highly dubious however, is despite the frequency of the thefts, Kraken do not change their system....as though the exchange is being operated by someone who is quite happy to leave this 'vulneability' open.

Yeah, could it not just be that with such fast-moving high volume, there just weren't enough corresponding orders at that price to match them with before the price moved on?

Hey, I'm not sure exactly what happened but perhaps the "last price" said it was under 955 for a short period but the actually market rate was higher, this has happened a lot for me and can be confusing at times, although all my kraken orders went through just make sure your looking at the correct rate, if that isn't the problem it could be the type of order you created, im not sure.

kraken always seemed ok never a problem there  but leverage offered is quite low.

okcoin is the worst, regularly took positions and came back to find them closed out and money gone (due to margin)  even though the price hardly moved.  this exchange is definitely 100% working against traders to take positions against them in order to force margin closes against them.  avoid it.

bitfinex is second worst, some real dodgy stuff going on there as well  and the fees are quite high. better than okcoin but only just.

best solution is dont trade leverage with bitcoin guys, you cant trust any of the exchanges there are scams on all of them.  only use leverage with reputable & regulated providers.

if you trade leverage with bitfinex or okcoin you are playing in a rigged game

best option - deposit to bitstamp and buy & hold.

Haven't had these sorts of problem with Kraken before but I haven't been using them as of late with the crazy BTC rush and all I think that had a lot to do with it.

Respectable yes. As in the idea that they don't scam people, they won't take your money and go away with it (or at least we think).
But it was a freaking rush period. And I don't for the others but I'm not sure most platform exchanges have the technical power to take such number of transactions and connections.
But... That none of them have actually taken an order? This is weird. Some delays yeah it's easily understandable, but that's no longer a delay that's just that they forgot it xD

Did you try to contact support? Though I don't think they would do anything...

If BTC was a stock trading would probably be halted in the same circumstances.

Kraken are corrupt to the core....they just do a much better job with their PR than all the rest.

Everyone goes around saying 'Kraken is best most trustworthy exchange, blah blah blah', but all the while they are getting up to every trick in the book, and routinely dip into their own customers accounts, blame the customer for having their computers hacked, and tell them to go whistle for their BTC/USD.


I am in touch with a big bunch of people who have been burned on Kraken and I can tell you, so long as Kraken keep the amounts they rob low, and the volumes of people who get robbed at any one time low, (one of the guys who got burned $35K said a lawyer firm he contacted weren't interest in this sort of case for any amount less than $500K) then they can effectively laugh at any threats of legal action of fraud reports to the police.

My buy orders executed perfectly, so I can't confirm.