Kraken to be shut down soon?

[pinarello]

this is no joke but a sincere warning to people that have money in bitcoin.

Another exchange is about to get schut down, kraken is under severe investigation and as they do not meet the requirements they are about to shut down.

another blow for bitcoin one we will not recover from as governements will shut down all these exchanges eventualy. dont be greedy or take your loss. sell and move on in life, BTC is on life support and kraken will give the final blow.


WARNING: before reading below letter first read and agree on the disclaimer below this letter! By replying or reacting on this letter you admit that you agreed on the disclaimer.
Don’t get kraked.
Jesspow your responsibility is tremendous not only to the customers of kraken but the whole BTC community (and people that got goxed) as you playing with the future of BTC and our money. Knowing and confirmed by yourself that kraken trading platform is full of bugs and errors even beyond repair you still take people’s money and think you going to get away with this, think again.
You can say that is the costumers own fault, BUT…. There is a side effect!
The many pending lawsuits against kraken (in silence because of obligated arbitrary procedure) will start to see the light and trigger more alarm bels on the governments side, the risk of being shut down by them is real and plausible. But on the Kraken Titanic, the band keeps playing, refuse to settle the many cases blaming the costumers, and stay open for business even with malfunctioning software bugs.
You just simply cannot run business earn huge amounts of money without any responsibility or obligations no matter what your disclaimers saying, juridical kraken disclaimer is one sided and UNREASONABLE for customers, it can be annulled before court.
I lost 25000$ and all claims by now reached to over millions of dollars, not because of bad trades but because of kraken malfunctioning trading platform that should be shut down instantly it is simply not working and you knew it back then and you know it now, but did not inform the users. I tried to settle this but did not get any answers from you nor your “helpdesk” which is not very helpfully at all. I am not the only one in this case and claims reach millions of dollars by now. The plaintiffs filled @ https://www.consumerfinance.gov/complaint/getting-started  the government reached unknown limits and kraken is under investigation by them.
Saying it is the customers fault to trade on kraken in the first place is bad management, you should advertise this on your website, people don’t trade here we only take your money without any responsibility our trading platform is not working and full of error and bugs but we don’t give a ***, we only want your money. Acts like this are the downfall of bitcoin and is why governments want regulations.
After mtgox BTC was getting tremendous hits and people are turning their back to BTC never to return,  soon BTC will be an elite club of big rich owners but there will be no more people that want anything to do with BTC., forget about wide adoption, BTC maybe will survive but It will be on a darkside in illegality run by an elite of criminals and eventually restrictions and regulations will kill it, it will tumble into obscurity and illegality. Some already think BTC is too big to fail, well think again.
Soon we will see BTC tumble to 2800 $ which is still to high. So it is not bitcoin that failed it are the greedy arrogant people and badly managed exchanges, malfunctioning trading platforms hacks and thefts that killed it.
One day I was a believer (and I still am in BTC) but it are the malicious exchanges and the people who run them that are responsible for its downfall. So we got goxed, kraked and darksided,
BTC is on life support and kraken will give it its final blow. I hope everyone get out safely and can go on with normal life without bitcoin. Withdraw your money from these exchanges as they soon all will be shut down by the governments and with good reasons, not because of BTC but because they steal your money..

Disclaimer: because of a malfunction in my brain I can and shall not be held responsible for what I wrote.

[Kakmakr]

Ok, so you got burnt by Kraken <losing $25000> and now you want to get back at them by flaming them on public platforms? It is a pretty strong claim to make that a business is about to be shut down, do you have any proof of that?

A lot of us lost money on exchanges that got hacked and we feel your pain. The problem is, once you take that pain and you attack the exchange in public and they start losing money, you will be taken to court by them and you might lose even more money.

If you come to a forum like this, you should rather share your experience <the truth> with other people, to highlight the flaws in that business. Claiming that the business will shut down soon, without proof, is taking it a bit too far.  

[Xester]

How true it is that Kraken is to be shutdown soon. Do you have any proof or any solid evidence that can back-up your claims. This claim of your could affect the whole bitcoin community and can cause panic among the investors in that exchange. You may have a bad experience but it does not mean that all of the users are also having a bad experience.

And also if you hate that exchange do not include bitcoin since bitcoin has nor responsibility or obligation to your problem.

My advise is for you is to ask their support again and again so that they can give you sufficient answer to your problems.

[UAE Seasider]

I do not see any signs of Kraken being closed down and personally I have never suffered any problems when trading there. I thought Bittrex was on the edge a few months back when they were closing accounts and faillining to verify existing ones but they are still operating.

General rule of thumb is do not leave large amounts on exchanges

[sparg]

Disclaimer: because of a malfunction in my brain I can and shall not be held responsible for what I wrote.

This last line shows that you don't want to take responsibility for your actions.
What was the case in which karken lost you 25000? Have they stolen them from your balance? Or because the faults of their platform you might've got 25000 more in your account from trades?
Give us some official statements regarding the investigation of kraken, otherwise, this post is only FUD brought by a user who doesn't know how to take responsibility for his own actions.

[jseverson]

Another exchange is about to get schut down, kraken is under severe investigation and as they do not meet the requirements they are about to shut down.

They are under investigation for what, exactly? Corporations are usually not investigated without probable cause, and I see none from your post, apart from the allegation that they lost you (or stole) $25k.

I'm all for exchanges being fair to their customers, and I do want them to get investigated if they did shady stuff, but what you posted was an allegation with few details and no proof. If you truly think Kraken did you wrong, you should try to write your story again, with detailed explanations along with some evidence so that people can help you. Saying that Kraken's downfall will be the end of Bitcoin is nothing but FUD too.

[BrentMack]

This is just false news. Spreading FUD and getting people scared. Kraken is fine, they are not under investigation and the exchange is working just fine. Why would you post something like this?

[MoeKaloolon]

DON'T LISTEN TO THIS NEWS. IT IS FALSE. Why are you spreading wrong information on this forum? People always verify whatever information you hear or read before passing it on.

[Dapper]

Been quite happy with Kraken since day 1.   

[munareal]

Too bad you lost $25,000 . Crypto currency transaction is a very high risk business and crypto users should always have that at the back of their mind. Making money and losing it is all part of the game. You should not blame your lost on the exchange you use to trade. Would you have complaint if it were a profit of $25,000. Be a good loser. We all have losses one time or another.

[mktpromp]

On what basis are you claming that Kraken will be shut down? Do you have proof to justify? There're so many users who are satisfied with it. So, don't spread negetivity if you had expertise it in a worng way.