Topic: Kraken in trouble? Withdrawal "on hold"? (Read 1457 times)

Hi Guys. I know this is an old post but I wanted to clear a few things up.

First of all, Kraken was not hacked. We suggest that our clients have 2FA set up and take advantage of other security precautions available on our website. Please look though our guide for more information. If you believe your account has been compromised please open a ticket here to let us know and we'll lock your account right away.

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Kraken had a major trading engine upgrade in early January and trading has been running very smoothly ever since. If you haven't tried Kraken in a while please drop by! Also, check out our new trading interface at trade.kraken.com.

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

Yeah.....

Unlike Bitfinex who made a big song n dance about it, Kraken kept it hushed up, and just passed the losses onto their customers by emptying some accounts that weren't using 2FA for log-ins, and then blamed their customers for having spyware on their computers.

this is the first I've heard of kraken being hacked?

Indeed, and I am in the UK, which makes California, a state in a foreign country.


As for the 'unknown theif'. Not an expert myself, but apparently, Bitcoin is very traceable. Another dude who got robbed has had his transaction traced by his police force. They also tracked the 'suspiscious log in', ( the thief entering the account), to somewhere, 'surprise surprise', in California, USA. In theory, the moment that the stolen BTC is cashed out on an exchange, the 'thief' could be identified. Of course, if the thief is smart, then he will find a means of avoiding revealing true identity when he turns crypto to fiat.

Isn't kraken located in California? It's better to sue kraken than the unknown thief.

Cos it is a long arduous and expensive process and they operate out of a foreign country and whilst it was a large amount of money to have stolen from me, on the grander scheme of things, it wasn't *that* much.

I have filed complaints with the UK police, and also UK financial ombudsman, but I don't hold my breath that I have actually any chance of getting my money back.

Why not sue them?

Kraken's user database has been hacked.

Many accounts have been robbed.


Kraken are trying to blame their customers for the fact that they have been robbed (cos that way Kraken reckon they are not liable to refund their customers), but owing to the sheer volume of simultaneous incidences of accounts being comrpomised, it is obvious that the security problems lie with them.

From my own correspondence with Kraken support, I have gotten no useful or helpful information out of them other than that they are 'sorry for your loss'. From correspondence that I have seen from other people whose Kraken accounts were emptied, I have seen Kraken support try to insinuate that hackers have compromised the user database of Bitfinex, and are using the username and password info to empty Kraken accounts.....but not to empty Bitfinex accounts, oddly enough....perhaps because Bitfinex operate Email verification as a mininum security requirement, whilst Kraken do not......

....but no....

...in reality, Kraken are having security problems, with the rat(s) most likely operating from within, lots of funds are being stolen, and Kraken's only concern regarding their customers is to cover their own backs and deny any culpability......if u have any choice in the mater regarding your MtGox funds, steer well clear of!

there was a post on reddit claiming kraken withdrawal was "on hold".
https://www.reddit.com/r/Bitcoin/comments/4vmyj0/kraken_btc_withdrawal_placed_on_hold_for_past_hour/

But this post was deleted.

The people who replied said they encountered same issue. I am not sure if it's true, because their reddit accounts are new.

So what's happened?

For me, I don't have any coin on kraken, but My mtgox fund would go to Kraken!