Bitcoin Forum

I'm destroyed
Send 10k dai to the wrong address format -on page they say they not recover
Only eth to eth
What if I want to close my account
. Will they get my private keys ?
This makes me nervous a bit

Kraken owns the private keys, closing your account won't change anything about that. I suggest you reach out to the support, but I wouldn't count on it because apparently, there have been some similar cases[1][2], and Kraken wasn't helpful about it.

[1] https://www.reddit.com/r/Bitcoin/comments/76i6p0/kraken_support_wont_help_with_a_recovery_request/
[2] https://www.reddit.com/r/CryptoCurrency/comments/7zfvbc/i_sent_21_bch_to_a_btc_address_on_kraken_they/

every other exchange I know uses 1 eth for all assets

I faced with this issue 2 years ago with Yobit. Worth support, that said me I can do nothing with this. It was my fault.
Same here, I think it make no sense to contact support.

I think binance, kucoin and some other popular exchanges do not do this. They have different address for different coins/tokens.

We always remind users to double-check the address, do not rush through when you are making a transaction but still we hear these kinds of stories. 

Anyway, $10K worht coins are a lot and I hope customer support response and help to recover his funds.

Sorry to hear that OP.

Binance do that way, even those crypto which was started as erc20 and transfer to mainet with their own blockchain, still can get the funds if deposited to their previous erc20 address.

I wish you good luck OP, this is something so hard considering how unhelpful kraken to its previous case the same as yours.

What about legal actions
A bank gave me account information
The money arrived
The bank owns the key for the deposit box but refuses to open it because it's against terms when you don't write King in reference

Would be a simple analogy

Actually it's a system weakness and technical design that the balance don't appear and erc20 nonetheless is a medium of ethereum

I will not update this post but thanks for all coments

Yup 10k it’s too much. I’ve lost 200-300 dollars in my case, it’s nothing in compare with this. Hope the exchange support will help this guy!

Most do but recovering wrongly sent funds must be something hard for them to do. But try talking your luck with the support though your chances are very low. I don't remember a case where someone successful recovered their money.

Keep contacting them everywhere you can and don't give up easily. $10k might be enough to try legal action if you can figure out which jurisdiction is applicable. Kraken could at least state how much they want to charge to recover the funds and do it once in a quarter to a batch of users.

It's a risky job for them. To recover this amount they have few hundred thousands dollar worth of coins will be at stake. Depending on their setting it could be very complicated because I am sure in their cold wallet not one person is holding the keys. But again for a person, $10k is a very good amount of money. And considering this, I hope Kraken will take the risk and help the user to recover his fund.

I too do not remember any such cases to be resolved but again I have never seen such amount too. So best of luck.

There are exchanges that will recover funds, maybe not necessarily straight away or for free, but recover they will. A bigger exchange should have the resources to account for occasional asset recoveries, and if they don't - they could charge the user for their mistakes, just not 100% :P

Will it not affect transactions of ethereum and tokens on their platform if they do this? I mean suspending deposit/withdrawal. I'm comparing it to what they usually do whenever they have scheduled/sudden maintenance in cases like token developer makes some changes.

I agree that they should charge fees for fund recoveries.

If they don't support DAI natively, maybe they can send USDT for, let's say, 10% fee or so. Not sure how easy it is for them but it will probably decrease the risk a little bit.
Only for some big transactions maybe. Pretty sure they won't bother with something less than $1k since it is not going to worth their time. And users should be careful in the first place, so it's not exactly their problem too.

In his TOS is clearly emphasized, "No, you cannot deposit ERC-20 tokens to your ETH deposit addresses on your Kraken account." https://support.kraken.com/hc/en-us/articles/360048128112
therefore they have no obligation to do anything here. Also, they can't do anything with these tokens because that would be some kind of theft.


if they wanted to spend time on such things, they would not set such a deposit condition.
Also, I understand when they don't want to share private keys. I can imagine how many cases there would be with stolen PK, and it would be very difficult to prove who is to blame for it.

While charging 100% sucks but charge a little amount do make sense. I imagine the recovery process for a big exchange or business is not easy. Maybe they have protocols before accessing it, have permission from this department, that department etc, I don't know how they operate but a risk of exposing the seed or private key is always there.

It should not, the public key should always receive the token/coin. Maybe at that time they will disable all the withdrawal is my best guess.

Yeah, withdrawal will most likely be suspended. 

I don't know. Maybe what Tether did when they helped refund $1 Million USDT wrongly sent to a DeFi contract address and Binance refunding BNB that will be sent to BSC thru the BNB Pioneer Program (https://www.binance.org/en/blog/binance-introduces-the-bnb-pioneer-burn-program-adjusts-bnb-token-burn-mechanics/) will change how these centralized coins and exchanges handle these things in the future. Perhaps OP just needs to push more for his DAI to be returned.

Update ... no refund

Who helps me with legal actions
Im based in Europe , kraken usa

I'm sorry with that. I do think that it's technically possible for them to retrieve your fund but I have noticed that popular exchanges are including it to their TOS that, if a user accidentally sent funds to the wrong address, they can't do anything with that. Just a usual business matter and ruling. And if this will go into a legal battle, maybe it will cost you more but still, I wish that this could be resolved through talks and consideration from Kraken.

and here is the thing .,.. its not a wrong adresss funds arrived at an address the exchange provided to me and the native blockchain is ethereum which handles dai

Sorry Buddy, I don't think Kraken exchange has nothing to do with, otherwise tells you to be careful when performing transactions, but I just hope you will be answered,
This act isn't necessary, and I don't think your funds it will be recovered either, I have perform this silly act before by transferring AENCO to wrong address in Kucoin from MEW, the money was gone forever till today,

i had a case personally where kraken recovered sai to dai
this process took many month and without notice

btw i have a question .. whats the higher authority for exchanges operating in the usa
is it the sec or finra ?

Hi, any updates on your case? Have you been refunded?
I did the same mistake today: sent 4.88 PaxGold (about 10 000$) to my Kraken ETH address. Now I can't access my funds. I can see the transaction was successful on ETH blockchain.
Contacted Kraken support already. 

we formed a telegram group
we must do this in teamwork


step by step
Kraken Deposit Recovery Group

also in reddit are many people with the same problem ,, this :'( can not be happening

How is it a risky job for them? There are no other funds on my ETH address other than PaxGold worth of 10K$... It is not like a collective ETH address with millions of funds from other users on it. You only need to deposit enough ETH for gas and a private key. Should only take a few minutes. I understand because of complex audits and security measures it may take a while to arrange. But once it is all set, accessing my funds does not put other users' funds in danger.
And this is not like the case of BTC recovery from a BCH address. It is all on one chain and ERC-20 tokens are fully compartible with ETH addresses.

Assume you own an exchange. Who has the private key of all the address of the exchange? You or other employees who you trust (maybe). I do not know how they handle the private keys, but I know for sure that it requires them a special team. A random employee can just steal all the coins from those address if they have the private key.

Now to protect assets this special team obviously knows the risk and reward factors just to give away a private key to a client. Maybe they require complex protocol which is expensive or they would not emphasize too hard warning their users not to send coins to a wrong address.

The type of hot wallets exchanges use are mostly HD wallets therefore. It's not just one address whose seeds are going to be exposed. It will be thousands of address of different accounts and by trying to recover only $10K. Risking millions of people's asset because of 1 person's assets that's not even listed in the exchange is a no-go area for most exchanges.

why all major exchanges can manage to give a client 1 eth address and catch all erc20

only kraken not !

giving no eta of solving this is just very weak

Havent resolved yet? Seen this issue posted on last year of September.It seems they dont have plans on helping or resolving the issue.

This is why we should really be careful on sending out tokens that should really be specific on particular blockchain or on whats been instructed or being cautioned to avoid with these kind of incidents.

There are lots who had similar issues but honestly this is due to human or user error but at least they should have some time on recovering those.

It seems I heard different issues the same as yours and there's no clear answer from them if the problem has been resolved.  The same happening on this Reddit thread (https://www.reddit.com/r/KrakenSupport/comments/m29y1a/erc20_tokens_accidentally_transferred_to_kraken/) that I have found and it was posted two months ago, someone Kraken staff answered there but there's no clear response at the end if the problem has been fixed.

This is might very risky for them to recover your fund and might lead them to be compromised their hot wallet, if I'm not mistaken, they ask for payment for this and if you are willing to pay, probably there could be a chance.

Ok, maybe I don't get something simple. I have one ETH address in my Kraken account unique only to me. Blockchain tells me, there is only my mistakenly sent PaxGold on this address (listed on Kraken btw). Every address has one unique seed attached to it, correct? Can't Kraken just go to My Ether wallet, enter private key or seed and access my funds?

When I withdraw crypto from my Kraken account, is not seed or private key required for that? So there must be an algorithm which uses it at the time of withdrawal?

Hi, I accidentally sent btc from my binance account to my Poloniex usdt wallet (omni) .. About of 64 days they didnt solved my issue.. 10 days ago 0.4 btc was 24k usd but now 14k usd. Exchange company want that users did mistakes.. I am tried to wait and they dont give me any time line to solve my problem..

here is my topic : https://bitcointalk.org/index.php?topic=5329770.0;all

Hi! It just happened to me also, can I be part of the group? How can I join? Thanks!

I made the same mistake in April 2021, transferring a sickening amount of SNX, UNI, and GRT to Krakens Etherum address instead of the individual tokens addresses.

GREAT NEWS THOUGH!!!

Kraken just recovered all my tokens!  They are worth a shitload less than they were at the time I made the transfer, but I'm amazed and thankful to Kraken for recovering them. I watched the price plummet, then soar to new highs and plummet again and was sick each time, what a rollercoaster.

There is hope for everyone in this situation (at least with Kraken), they are obviously going through their wallet and rectifying these mistakes now that they have a unified wallet for Etherum and ERC20 tokens

https://support.kraken.com/hc/en-us/articles/4410585641108-Important-change-to-ETH-and-ERC-20-deposits

Good luck to the rest of you.