In the interests of transparency as noted by another user I feel I should bring to the community's attention my experience with Kraken so far.

I have been awaiting a SEPA withdrawal for 2 months and despite continued (if ad hoc) contact with support I appear no closer to receiving it. This is my second SEPA withdrawal (the first actioned without incident) and I was told that the problem lay with me putting my bank's name rather than my own name on the transfer form. Fair enough, if that is indeed what I did. (although why the first SEPA made it through and this didn't I am not sure).

After a lengthy investigation, Fidor Bank confirmed that they had found the money and they would send it again. I am told that they sent it a few weeks ago but surprisingly it has not turned up, and now we are involved in another nebulous 'investigation'. I do not understand why Kraken appears to have such poor communication with their German bank that they are unable to resolve this issue within a satisfactory amount of time.

I will say; support is cordial but is often very slow to respond. I generally have a favourable opinion of Kraken however I think it serves us all to remember that all is not what it seems with this industry and exchanges (mt.Gox and Bitcoin 24 for example - both of which have burnt me in the past) aren't always as honest as they appear. I welcome any resolution from Kraken staff and hope this serves as food for thought for any prospective customers.

I felt like we had some good momentum going there but it has again gone quiet. The money is still with you guys. Can somebody just call your bank and have it refunded back to my account.

Ah I see. I wonder why it worked the first time. In any case I feel a little silly.

So, I just called my bank and they said they would usually ping it back to the bank of origin under these circumstances. Is your bank holding it?

Edit: Called again and they have no record of the transaction. I believe the money has to be with your bank.

They are. Check out whois.com

It is a little underhand and reflects a lack of professionalism but I don't think it is terribly bad of them.

Just received a message from support. I will let others know how it pans out.

Is Kraken going the way of Bitcoin-24? Money not turning up, total lack of support, I'm just waiting for the site to go down next...

I made a SEPA withdrawal 3 weeks ago, my second so the details are correct, and despite it saying 'success' I have yet to receive my money. No response from support despite numerous polite attempts. Others are having the same problem and are expressing it on the Kraken FB page. Somebody from Kraken removed all the negative posts but didn't respond to them. This is a very poor show.

What on earth is going on? My public id is: AA75 N84G LXNE GDJY

Let me clarify; the claim on 'Bitcoin 24 help', as far as I can discern, is AGAINST Simon and Bitcoin-24.com but it does state that the money owed was given freely and was not phished.

Apparently on the 16th Simon's hardware was confiscated after somebody filed a complaint. This is what I can gather from the statements on his website. Although I dont speak German.

It appears a complaint was made to the police but it stated that the money involved was not phished and we are the legal owners of it.

One thing is clear; Simon has no hardware and is pretty much fucked at the moment. Those that have BTC, who knows what will happen. Do they police have any idea what BTC are? I doubt it. Those that have fiat; the money is safe - maybe too safe. The government will stew on this for a long time perhaps.

I'm sorry but you're being naive and far too forgiving. What reason is there to believe that's the real Simon apart from the fact we desperately *want* to believe he hasn't completely f*cked us over?

The most obvious point is that there has been no communication through any of his pre registered accounts. Only that new one which could have been created by absolutely anybody.

*nobody* is that stupid that they wouldn't have a constant and consistent channel of communication open during this crisis. His reticence is damning. With the minimum amount of offence; I've seen autistic people with better awareness and communication skills.

48 hours with no communication! During something like this? Are you kidding me? People are going insane and justifiably so.

I truly doubt that's the real Simon, although I could be wrong. Why the f*ck would he use yet another confusing channel of communication? What's next? Smoke signals? Morse code?

The police haven't seized the hardware. They barely seem aware of the situation; it's not as if he's wanted by Interpol (yet)

We shouldn't keep making excuses for him. It's an exercise in self delusion.

Yes. Everything he has done has served to reduce our trust in him. If he's legitimate then he *literally* couldn't have handled this worse.

Communicating through Reddit and twitter on an completely ad hoc basis? No formal information, no corroborating evidence, contradictory statements and a profound lack of action? What a disgrace. If he isn't a scammer he is doing his best impersonation of one.

Now, because of his incompetence hundreds of people (myself included) have filed complaints to the Bremen Kriminalpolitzi which means the money will be tied up forever. I couldn't let this charade carry on any longer. 48 hours of no communication shows a complete disregard for the situation.

That's if there's any money left in the account, anyway. I sincerely believe he has lost thousands and thousands of BTC through the bug and was trying to cover his losses through the increasing value of BTC.