Issues with Kraken LTC Deposit

[dotcomedy]

I'm new to Bitcoin and Litecoin (I know, I know, I should have gotten involved sooner, I've been watching Bitcoin for over a year), and just started purchasing through Coinbase (great so far), and trading on BTC-E (great so far).  Here's my problem, and I'm wondering if anyone else has had the same issue:

I created an account on Kraken so that I could trade BTC/LTC in a less liquid market than BTC-E to get my feet wet.  Nothing big, about ~.3 BTC, to compliment the ~BTC.3 I had on BTC-E.  I withdrew 6 LTC from BTC-E, and sent it to my Kraken LTC address.  And nothing.  I verified the transaction on http://explorer.litecoin.net/ and it showed up quickly.  But in Kraken, not a peep.  When I deposited Bitcoin into Kraken, they detected the transaction instantly, and the funds became available after the transaction was verified on the blockchain.  But with Litecoin, Kraken completely failed to detect the transaction.  I've re-checked the address 10 times now to be sure, and I got everything correct.

Is this an issue with Kraken? An issue with Litecoin? Their customer service team is completely unresponsive, and now I'm worried that my Litecoin has just been vaporized.  Anyone with experience in this?

Much thanks!

[carajillu]

I deposited 90 NMC 24 hours ago and they haven't showed yet in my balance. Before that deposit I had already done about 10 deposits with NMC that worked pretty quickly (less than 2 hours). I guess that they are experiencing an overload due to the recent increase of customers. Could the Kraken guys give some kind of information here please? Just a few words to keep us happy??

[vlvdberg]

I'm new to Bitcoin and Litecoin (I know, I know, I should have gotten involved sooner, I've been watching Bitcoin for over a year), and just started purchasing through Coinbase (great so far), and trading on BTC-E (great so far).  Here's my problem, and I'm wondering if anyone else has had the same issue:

I created an account on Kraken so that I could trade BTC/LTC in a less liquid market than BTC-E to get my feet wet.  Nothing big, about ~.3 BTC, to compliment the ~BTC.3 I had on BTC-E.  I withdrew 6 LTC from BTC-E, and sent it to my Kraken LTC address.  And nothing.  I verified the transaction on http://explorer.litecoin.net/ and it showed up quickly.  But in Kraken, not a peep.  When I deposited Bitcoin into Kraken, they detected the transaction instantly, and the funds became available after the transaction was verified on the blockchain.  But with Litecoin, Kraken completely failed to detect the transaction.  I've re-checked the address 10 times now to be sure, and I got everything correct.

Is this an issue with Kraken? An issue with Litecoin? Their customer service team is completely unresponsive, and now I'm worried that my Litecoin has just been vaporized.  Anyone with experience in this?

Much thanks!

Issues with withdrawal as well. I put up a withdrawal request to private wallet of 27.2 LTC about 16 hours ago, but still "Pending". Canceling the withdrawal doesn't work, as it gives the "No change Internal error" notification. I can't trade with the funds now and I'm missing important trade opportunities due to the funds hanging out there somewhere in the Kraken system. Very annoying.

I hope someone from Kraken can shed some light on these issues.

[cammo12]

Same here. Deposited 10 LTC, but nothing showing up. This is my first time buying coins, and thought I'd been scammed. At least others have the same problem. But what the hell is going on??

[vlvdberg]

My withdrawal now shows status "Failure" after about 16 hours. Still no re-deposit in my kraken wallet though. What is going on? Will the funds be returned?

[ledmaniak]

Issues at kraken are really becoming annoying..

Yesterday I suddenly received 85 LTC for free(double confirmation). They are removed from my account today.

I still have a lot of namecoin waiting confirmation on kraken. I'm losing a lot of money on this transfer. Most annoying fact is that I get NO response at all and they don't say anything about the issues they have!

[maej]

I am also having troubles with Kraken. 2 seperate LTC withdrawals were stuck at pending for 16 hours then went to failed this morning, but worse still my account balance now shows a big negative number for LTC!

So now I've lost my coins and my account is in huge deficit!

What is going on Kraken???

I contacted support late yesterday, and again this morning, no response yet. I'm getting really worried.

[cammo12]

OK, so my LTC finally appeared after a couple of hours. I guess things are just rather slow today 

[ledmaniak]

OK, so my LTC finally appeared after a couple of hours. I guess things are just rather slow today 

It is not slow today, it is slow for the whole week already. I'm waiting since Monday for a lot of namecoin to arrive at kraken.

Most annoying fact is that they give no update or even a statement at all. If something is wrong, just admit and say what you're going to do about it. Not saying anything at all sounds fishey, certainly with this amount of money.

[vlvdberg]

Thank god, my Litecoins have been re-deposited to my wallet. I'm happy now. But Kraken should still resolve the issues regarding LTC transactions, as there appear to be a lot of other users still having issues. I hope they will make an announcement soon!

To all above; probably all will be alright, it just takes a long time.

[ledmaniak]

Finally, after writing above post, the namecoin arrived.

@vlvdberg
Yes, I do trust them and I'm sure in the end everything will be alright. But what about the money we lost because funds were held for 36 hours and price dropped significantly by that time? Will they compensate for that?

[CoinTraderPro]

I haven't had any real problems so far with Kraken during the month or so I've been trading there.

SEPA withdrawals to my bank in Europe have been taking 3-4 days and BTC/LTC withdrawals all seem pretty quick.  The interface is pretty slick, it's just a shame the volume is not there yet.

[vlvdberg]

Finally, after writing above post, the namecoin arrived.

@vlvdberg
Yes, I do trust them and I'm sure in the end everything will be alright. But what about the money we lost because funds were held for 36 hours and price dropped significantly by that time? Will they compensate for that?

I guess not, also because there is no real regulation about that. I've lost quite some few trading opportunities as well. I'm already very happy the money didn't vaporize however... The lack of regulation effectively means Kraken could stop doing business anytime and your stored money will be gone. I've learned my lesson, it's better to keep the coins in a private wallet. I guess I will trade my LTC to BTC when theres a good rate and withdraw it to my private bitcoin wallet (as LTC deposit/withdrawal seems to be broken in Kraken, I'm not going that way again).

[vlvdberg]

Kraken has finally put up an announcement on their Facebook page. They admit their treasury service was offline for a while. It's back online. All your transaction issues should resolve soon.

See their Facebook post at http://www.facebook.com/KrakenFX.